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  • BOAT/JETSKI
  • HOMEOWNERS
  • MANUFACTURED HOMES
  • FLOOD INSURANCE
  • RENTER'S INSURANCE

FLOOD INSURANCE

According to the Federal Emergency Management Agency (FEMA), flooding is the number one natural disaster in the United States. Business owners, home owners and renters should all consider purchasing flood insurance policies to protect their assets. If you are in a low-to-moderate risk zone, the premiums are very affordable. On the other hand, water damage of any kind can be very costly.

 


Flood insurance policies cover:

  • Building
  • Contents

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Did You Know?

  • That one inch of water in a 1,000 sq. ft. home can cause over $10,000 in damage? 
    Source:  National Insurance Flood Program
  • Most homeowners policies do not cover flooding from ground sources.
  • Residential developments can overload drainage systems and cause flash floods.
  • Premiums are affected by previous claims on the property.
  • Flood insurance policies are transferrable if you sell your home.

 

Don’t wait until you learn of a major hurricane on the way. There is usually a 30-day waiting period before coverage goes into effect. Baldwin county and all of the surrounding counties in our area participate in the National Flood Insurance Program (NFIP), therefore affordable flood insurance is available for us.

 

Coverage


Compensation is calculated differently for buildings vs. personal property:

  • Replacement Cost Value (RCV) replaces structural damage at cost.
  • Actual Cost Value (ACV) reimburses you for contents at replacement cost minus depreciation.

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With any type of property insurance policy, it is important to create and maintain a complete list of all your assets plus any home improvements and major purchases you make. It is advisable to keep this list in a safe place outside of the home, such as a safety deposit box:

  • Copy of your insurance policy with your agent’s contact information
  • List of assets, written and visual
  • Year, make, model, serial#, receipts for major items
  • Appraisal of valuable items such as artwork and jewelry
     

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For more information on what is and is not covered in homeowners policies, watch the water damage video on our Homeowners page.