While many equate flooding with rainy conditions, winter weather and spring thaw can also lead to many flood risks. According to FEMA, areas that receive a lot of snow can see flood risks increase when it begins to melt. This year, the Northeast has seen record snowfall and ice jams– rapid snowmelt and intense rainstorms may follow, all of which lead to high chances of localized flooding.
A Standard Homeowner’s Policy does NOT protect you from flood damage!
Just a few inches of water from a flood can cause tens of thousands of dollars in damage. From 2008 to 2012, the average residential flood claim amounted to more than $38,000. Flood insurance is the best way to protect yourself from devastating financial loss. Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Policies provide coverage for buildings and contents. However, you should discuss insuring personal property with your agent, since contents coverage is optional. Typically, there is a 30-day waiting period from date of purchase before your policy goes into effect. That means now is the best time to buy flood insurance.
Flood insurance provides coverage for physical damage to your property and possessions. You can use the following list as a general guide to what is and isn’t covered.
Personal Contents Property:
What’s Not Covered:
Basements and Areas Below Lowest Elevated Floor:
Coverage is limited in basements regardless of zone or date of construction. It’s also limited in areas below the lowest elevated floor, depending on the flood zone and date of construction. Including:
Call us at 401-846-9629 about your Flood Insurance Coverage;
We’re always here to help!
* * * * *
Some Content: FloodSmart.gov