It can create massive destruction of properties. It can cause a financial hole in one's savings if they are not covered by insurance. Here are five everyday things a person needs to know about flood insurance.
Flood insurance protects the property and belongings of people from floods. There are two types of coverage: building coverage and content coverage. Building coverage protects the home itself. On the other hand, content coverage protects the belongings of the family.
Building coverage protects:
- Furnace and water heaters
- Electrical and plumbing systems
- Foundation walls, staircases, and anchorage systems
- Window blinds
- Detached garages
- Refrigerators, cooking stoves, and built-in appliances.
- Fuel tanks, well-water tanks, and pumps, and solar energy equipment
- Permanently installed cabinets, paneling, and bookcases
- Permanently installed carpeting.
Content coverage protects:
- Washer and dryer
- Microwave oven
- Valuable items such as original artwork, etc.
- Personal belongings
- Portable and window air conditioners.
How it works
Flood insurance works like other insurance policies. When someone is insured, the damaged properties will be paid for by the insurance company. The homeowner pays an annual premium policy.
If the homeowner's properties get damaged by flood, they will receive cash. This cash will be used to build or repair the damage. Still, it is up to the policy limit of the insurance.
How to buy Flood Insurance?
A person can buy flood insurance by communicating with their insurance company. It can be purchased if the person has an existing policy or purchasing a new one. They can also call a local independent agent. That agent can write flood insurance with National Flood Insurance Program (NFIP)
A natural disaster is something people cannot prevent. Although it cannot be prevented from entering, there are still things people can do to protect themselves. Having flood insurance can help a person to save the life they built for their families.
At Brad Spurgeon Insurance Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (409) 945-4746. You can also request a free quote by CLICKING HERE.