by Sherelyn Yetter Schoch
April showers may indeed bring May flowers, but for homeowners, they also bring the potential for flooding. As the saying goes, “April showers bring May flowers,” but they can also bring water damage, headaches, and costly repairs. That’s where flood insurance comes into play. As I write this today, I can hear the rain hitting the window. In this blog post, we’ll dive into the world of flood insurance, exploring what it covers, why it’s important, and how you can protect your home from the unexpected.
What is Flood Insurance?
Flood insurance is a specialized insurance policy designed to protect homeowners from the financial losses associated with flood damage. Unlike standard homeowners insurance policies, which typically exclude coverage for flood-related damage, flood insurance provides coverage specifically for losses caused by flooding.
Why is Flood Insurance Important?
Many homeowners mistakenly believe that their standard homeowner’s insurance policy will cover them in the event of a flood. However, this is not the case. Standard homeowners insurance policies typically exclude coverage for flood-related damage, leaving homeowners vulnerable to significant financial losses if their home is damaged by flooding. It’s a common misconception to think, “Oh, I’m not in a flood zone, so I don’t need flood insurance!” This assumption can be dangerous. According to FEMA sources, from 2014-2018, policyholders outside of high-risk flood areas filed over 40% of all NFIP flood insurance claims. Additionally, there are limitations to obtaining federal disaster assistance after a flood event.
Flood insurance is important because it provides homeowners with financial protection against the devastating effects of flooding. Whether it’s a torrential downpour or a nearby river or stream overflowing its banks, flood insurance can help homeowners recover from flood-related damage and rebuild their lives. Since many of us live along the Delaware River, we’ve seen a few times when that understated river exceeds its banks!
Understanding Flood Insurance Coverage:
Flood insurance policies typically cover two types of property: building coverage and contents coverage. Building coverage helps pay for the repair or replacement of your home’s structure, including the foundation, walls, floors, ceilings, and built-in appliances. Contents coverage helps pay for repairing or replacing your personal belongings, such as furniture, clothing, electronics, and other valuables. It is important to note that personal belongings stored in the basement and destroyed by flooding will not be covered!
It’s important to note that flood insurance policies have coverage limits and exclusions, so reviewing your policy carefully and understanding what is and isn’t covered is essential.
Yetter Insurance Flood Center
If you are interested in obtaining information about flood insurance, please visit our Flood Center. Sherie and her team at Yetter Insurance have teamed up with an excellent teacher, friend, and flood insurance advisor, Chris Greene. Chris is the Flood Insurance Guru and his dedicated team only works with Flood Insurance – their knowledge and service are top notch!
Protecting Your Home from Flooding:
While flood insurance can provide valuable financial protection, there are also steps you can take to reduce your risk of flooding and minimize the potential for damage to your home. These may include:
- Elevating electrical systems and appliances above potential flood levels.
- Installing flood-resistant building materials, such as flood vents and sealed walls.
- Keeping gutters and downspouts clean and free of debris to prevent water from backing up and causing damage.
- Creating a landscaping plan that promotes proper drainage away from your home’s foundation.
Conclusion:
As April showers roll in, it’s essential to understand the importance of flood insurance and how it can protect your home from the devastating effects of flooding. By taking proactive steps to safeguard your home and investing in flood insurance coverage, you can rest assured knowing that you’re prepared for whatever Mother Nature throws your way. So, as you enjoy the beauty of May flowers, take a moment to ensure that your home is protected from the potential dangers of April showers.
