BASIC THINGS YOU SHOULD KNOW ABOUT FLOOD INSURANCE

Most people know that homeowners insurance is a necessity. It can offer protection against theft, cover care for injuries suffered on your property, and various other mishaps. But one of the things it doesn’t cover is flooding. For this, you need flood insurance, and in many areas it is required.

How much you’ll pay for flood insurance depends on a number of things including how strong your coverage will be and the risk of flooding in your region. Unlike some other types of insurance, there isn’t a lot of wiggle room when it comes to the coverage of floods. This is because this type of insurance is regulated by the National Flood Insurance Program (NFIP). Although the NFIP is a government organization, actual policies need to be purchased through an insurance provider. Most major insurance companies participate in the program and frequently bundle flood insurance along with homeowners insurance policies.

Flood insurance will normally take care of water damage caused by heavy rain or snow, or overflow from lakes, rivers, or oceans. But not all water damage is covered under a flood insurance policy. It’s important to consider the source of the flooding. If it is caused by faulty plumbing, such as an overflowing toilet, dishwasher, or washing machine you may need to review your homeowners policy or your appliance warranties to determine your coverage in those situations.

Pairing the right flood coverage with the right homeowners insurance policy can be tricky, and it’s good to have some guidance when you are making those decisions. At American Advantage – IFS Inc. in Pewaukee, Wisconsin, our independent insurance agents have strong relationships with many different major insurance providers, that serve customers throughout the state of Wisconsin. Not only do we connect customers to homeowners and flood policies, but we can also provide direction for auto, life, health, and business insurance as well. To learn more about how to get all the coverage you need contact American Advantage – IFS Inc. today.