Flood Facts: Are you Covered?

Many homeowners feel that flood damage is covered under their homeowners insurance policy. However, this is generally not true. It’s important to be properly educated on this, so here are a few flood insurance and flood facts:

  • Each of the 50 states have had some level of flooding in the past five years.
  • If you have a mortgage from the government or live in an area that is deemed very high risk for floods, you are required to have flood insurance on your home.
  • It only takes inches to cause damage resulting in thousands of dollars.
  • Flood insurance should be purchased prior to a storm, as it generally takes 30 days before the policy goes into effect.
  • In areas that are deemed high risk for floods, there’s a better chance of flood damage than fire damage.
  • Between the years of 2003 and 2012, there was $4 billion in estimated flood damage.

If you still aren’t sure whether or not a flood insurance policy is right for you, contact North American Advantage Insurance Services.