Do You Have Flood Insurance?

Do-You-Have-Flood-InsuranceDo You Have Flood Insurance?

The new year is a great time to re-evaluate your insurance coverage and make sure you and your family are properly covered. As shown by the damage wreaked by Hurricane Sandy, examining your flood insurance coverage should be top priority.

A flood is defined by as a “general and temporary condition where two or more acres of normally dry land are inundated by water or mudflow.” Hurricanes, overtopped levees, clogged or outdated drainage systems and rapid accumulation of rainfall can all cause flooding.

And it doesn’t take much. You don’t need a storm of Sandy-esque proportions to wreak havoc. Two inches of water in a 1,000 square foot house could result in total losses over $10,000 dollars. Nearly 20 percent of flood claims came from moderate-to-low flood risk areas.

There is no such thing as a “flood-free” zone. Floods can happen anywhere, though some areas are at a higher risk than others. FEMA’s Flood Insurance Study compiles statistical data to outline a map detailing the different flood risk areas in your community.

Most homeowners insurance does not cover flood damage, a fact many homeowners don’t know until it is too late. To get flood protection, you must buy a separate policy. The cost for flood insurance depends on the level of flood risk in your area.

The National Flood Insurance Program provides a standard policy for homeowner in high flood risk areas. Homes in low or moderate risk areas can qualify for other policies through different insurance companies. To examine your options and see what plan is the best fit for you, contact the Byrnes Agency today.

The Byrnes Agency is one of the largest privately owned insurance agencies in Eastern Connecticut. A multi-generational firm, the Byrnes Agency’s seven decades of experience has established an impeccable reputation through hard work, experience, expertise, and dedication.

Contact us today for more information.