From 1980 to 2018, flooding caused more than $123 billion in damage across the United States. Rising water is typical after hurricanes and other major storms. Unfortunately, after a storm has passed, home and business owners may discover that their insurance policy does not cover flood damage. Here are several reasons why it’s worth investing in flood insurance to prevent any issues in the future. 

3 Reasons Why Flood Insurance Is Critical

1. Flooding Is Unpredictable

National weather models do their best to estimate where flooding will occur based on historical data. However, determining how high water levels may rise is difficult. Communities outside of designated flood zones may still be vulnerable to significant damage. To be on the safe side, having flood insurance in place can help pay for the repair and replacement costs. In order to take advantage of coverage, you must have a policy in place for at least 30 days before submitting a claim. 

2. Provides Comprehensive Protection

The coverage includes the repair, and in some cases, replacement costs for a long list of property and personal possessions. From appliances, plumbing, and electrical systems to artwork, carpeting, and food in refrigerators, the coverage is exhaustive. Your deductible will vary based on the type of policy you have.  

3. Coverage May Be Required

If your home or business is located in a high-risk flood area with a mortgage from a federal lender, you are required to have flood insurance. Additionally, if you previously received federal disaster assistance from the Federal Emergency Management Agency or the U.S. Small Business Administration after a Presidential Disaster Declaration, you might be required to have flood insurance as a condition for future aid. 

P.D.H. Insurance Brokerage, Inc. in Valley Stream, NY, helps individuals and business owners select coverage to protect their properties from flood damage. The experienced and professional agents take the time to discuss your needs and offer a policy that is affordable and reliable. To discuss flood insurance and receive a free estimate, call (516) 561-5227. Browse this insurance broker’s services online.