We have seen a considerable amount of FLASH FLOODING this season. Maury County had an episode of fast rising water this past weekend. Heavy rains can occur at a fast rate of speed. The ground – being dry – can’t absorb it quick enough and almost immediately, water accumulates and, in some cases, can run right into your property.
Many don’t know that most all homeowners policies EXCLUDE flood damage as a covered peril or risk.
With no coverage for flood damage in your policy, it can leave you with a potential gap in coverage – and possibly a costly one. Just one inch of water can cause approximately $26, 807 of damage to a 2500-square-foot single-story home. This is according to the Federal Emergency Management Agency (FEMA)
People living in high-risk flood zones are required to obtain a National Flood Insurance Program (NFIP) flood policy. But what if you live outside of a high-risk flood zone? FEMA found that from 2014-2018, people living outside of high-risk flood areas filed over 40% of all NFIP flood insurance claims.
While most people living outside of a high-risk flood zone may obtain a separate NFIP flood policy, we have some companies that offers an alternative known as Inland Flood coverage. It is specifically designed for people living outside high-risk zones that can be endorsed onto an existing homeowners policy. This coverage is not affiliated with the NFIP.
Typically, the Inland Flood endorsement offers coverage as broad as – and in some cases broader – than an NFIP flood policy. For example, the Inland Flood endorsement provides coverage for additional living expenses in case you cannot live in your home after a flood and does not include the severe limitation in basements the NFIP does.
Inland Flood coverage helps protect homeowners from the damaging effects of floods that can occur outside of high-risk areas. We’re glad we can offer this special coverage to our customers. It might be something you should consider on your property policy.
We are here and ready to serve you at the agency! TEXT or CALL us at 615.377.1212. You can email us at info@BentonWhite.com. Whether you need flood coverage, insurance for your valuables or long-term care insurance, we’ve got you covered! Let us know how we can help!
Stay safe!
