Flooding is the No. 1 Most Costly Disaster – Are You Prepared?
Flooding is the most costly natural disaster hazard in the U.S. It is responsible for close to $24 billion in damages within the last 10 years. Even if your residence is located outside the flood plain, you can sustain unexpected flooding and corresponding water damage. In fact, nearly 25{babbc178be77080b85919e01e8fc05e4d4cf13798276bf03760b167f5df6e3dc} of all flood insurance clams come from moderate to low-risk areas. This is because flooding at any location can increase and decrease over time. Unexpected precipitaiton, construction, and other factors can turn a low-risk area into a moderate to high-risk area. Having flood insurance, regardless of whether you live in a high or low risk area, provides much-needed protection and gives numerous benefits, including:
– Compensation for all covered losses
– Compensation for flood damages even if federal disaster aid is unavailable
– Payment for your covered losses, unlike interest-bearing loans through federal disaster assistance
– Options for low-cost policies for those who qualify
– Guarantee for compensation for flood damages as the federal government back NFIP flood insurance
– Help to move on – if your property is damaged by flood, your agent is there to help you handle your claim (and most claims are paid within 30 to 60 days).
If you are interested in finding out more about flood insurance and flood insurance rates, contact the friendly professionals at our office at (215) 942-0616.