Without flood insurance, your homeowners coverage is simply incomplete. The fact is, a standard homeowners policy does not cover your home and its contents in the event of a flood. Even if you haven’t experienced a flood in the past, that doesn’t mean you won’t in the future. Anywhere it rains, it can flood: Risk isn’t just based on history; it’s based on a number of factors.
As one of the nation’s largest flood insurance brokers and a two-time National Flood Insurance Agent of the Year, we do all we can at Cook Maran to help our neighbors and clients understand the importance of flood protection. What you should know:
- Maximum coverage limits available on a residence are $250,000 for the dwelling and $100,000 for personal property coverage. While premiums vary based on the location of the property, “preferred risk policies” can be purchased in low-hazard zones for as little as $352 per year.
- Some factors that affect rates are flood zone, elevation, the year your house was built and the type of foundation.
- Excess flood coverage over the maximum limits available through National Flood Insurance Program is available through specialty markets.
- For most policies, there is a 30-day waiting period from the date of purchase before the policy takes effect.