Flood Insurance
The best way to describe flood insurance in by the FEMA definition below:
A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:
--Overflow of inland or tidal waters; or Unusual and rapid accumulation or runoff of surface waters from any source; or Mudflow; or Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.
A LOSS CAUSED BY A FLOOD IS NOT COVERED BY A REGULAR HOME / CONDOMINIUM OR RENTER POLICY. A SEPARATE FLOOD POLICY IS NEEDED TO COVER SUCH A LOSS. It is also important to note that most floods claims occur in low to moderate risk flood zones. These are normal everyday neighborhoods! Winter storms with ice covering drainage and new developments changing drainage patterns are common causes of home flooding.
Unfortunately many insurance professionals don’t really understand the particulars of properly covering your property with a flood policy. This can cost you money! Please contact one of our licensed professionals to Assess your coverage needs. We have years of experience writing flood insurance.