Flood Insurance

Why You Should Consider Flood Coverage

Although it may not seem like much, even a few inches of water can cause damage and result in thousands of dollars in repair and restoration costs. Homeowners insurance does not typically cover floods. Purchasing flood coverage through Dave Walkenhorst Insurance Agency can protect you.

All Properties Have Some Risk Of Flood Damage

Different types of policies are available based on your property’s location and flood history. Let’s break down the differences in available policies.

Standard Flood Insurance Policies

If you live in a community that participates in the NFIP, your building and its contents can be covered by a Standard Flood policy. The National Flood Insurance Program (NFIP) was established by the Federal Government to help communities who “voluntarily participate in the NIFP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or effect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a Standard Flood policy.

Preferred Risk Policies

If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost Preferred Risk Policy. While you are not required to purchase flood protection in low-to-moderate risk areas, a Preferred Risk Policy will protect your home and its contents if you are affected by a small flood or a larger flood that has extended into your low-risk area. In truth, many flood claims occur in low-to-moderate risk areas.