Generally, most homeowner and business insurance policies do not include coverage for flood. A flood policy can cover both buildings and contents. Damage caused by flooding can be extremely destructive to your property and without insurance you could be financially devastated. It is important to note that it is not only high-risk areas that are prone to damaging floods. Flooding can occur anytime and anywhere. One-quarter of National Flood Insurance Program (NFIP) claims come from outside high-risk flood zones.
Flood insurance is available for purchase from your local agent. The maximum coverage limit from the National Flood Program for residential property is $250,000 for the home and $100,000 for personal property.
The NFIP defines a flood as “A general and temporary condition of partial or complete inundation of 2 or more acres of normally dry land area or of 2 or more properties (at least one of which is your property) from: Overflow of inland or tidal waters; Unusual and rapid accumulation or runoff of surface waters from any source; mudflow; or Collapse or subsidence of land along the shore of a lake or similar body of water.”
An example of a flood could be a creek or river overflow, a broken water pipe, a discharge from an above-ground pool, a blocked storm drain or a ruptured water storage tank. A common type of flood loss is water seeping through foundations or walls due to flooding in the area. The problem that homeowners and businesses face is that these types of flood claims are often, if not always, excluded from their standard policies
We strongly suggest you obtain a quote for this valuable and relatively inexpensive coverage, whether it is required by your lender or not.
If you have further questions about flood Insurance or insurance in general, please call Lori A. Johnson at Emery & Webb Insurance at 845-855-1112 x-1303 located at 54 East Main Street, Pawling, NY 12564.
Emery & Webb, Inc. has been insuring the residents and businesses of the Hudson Valley, NY since 1886. With Offices in Fishkill, Poughkeepsie, Rhinebeck, and Pawling, 24/7 Customer Service and an in-house Claims Department, we are conveniently located to provide the highest level of service and proper level of insurance protection.