Winter storms spell more trouble than just poor driving conditions and stress on your home and roof, because as winter snow melts and causes local bodies of water to rise, your home may be in danger of flooding. Even if your community has taken measures to protect residents against flood, such as through the construction of levee systems, you may still be at risk.
Home insurance policies provide no protection against the damages that follow a flood. It doesn’t matter if your home or contents are destroyed or whether you live in a flood zone or not, home insurance policies exclude the damages caused by floods. Attention renters, you’re not off the hook either, because without flood insurance for your contents, you will also not be covered.
A flood insurance policy is created with the intention of protecting against flood damages. Flood insurance underwriters are equipped to assess the risk that each homeowner brings and rates are set up to cover the needs of the insurer when providing this protection.
According to the National Flood Insurance Program (NFIP), the average flood insurance claim is $33,000. Imagine having $33,000 in damages to your home and the risk of further damage from quickly proliferating mold spores. You’d need to come up with the funds to get your renovations and mold remediation started quickly. Would you be able to come up with the resources without the benefits provided by an affordable flood insurance policy? Imagine having to find another way to finance the repairs. From loans to savings to retirement savings distributions, most of your options create additional charges in interest, penalties and lost capital that could have easily been avoided with a simple flood insurance policy.
Just how affordable is flood insurance? The Insurance Information Network of California estimates the average annual premium as $570, and it can go much lower for those with homes outside a flood zone. With rates like these, there is no reason not to have that little bit of extra protection for your house or apartment. Give us a call and get your flood insurance policy set up before melting winter snow becomes an expensive and unexpected problem for you.
Don’t put yourself in a vulnerable position. Call Salzberg Insurance Agency at 757-583-1828 to get a free, personalized Virginia flood insurance quote today!