Rain Happens, It Makes Sense To Be Prepared!

2021-04-25
By: Advocate Brokerage

Rain, rain, go away. It’s a nice thought but unfortunately, rain happens and there isn’t much we can do to prevent it. What we can do is have a conversation about flooding; the damage excess water can do to a home and the flooding coverage that is available to help you protect yourself.

According to NOAA, over the last 20 years, the United States has experienced double the number of storms (or other natural events) than the previous 20 years and they produced damage of over 1 billion dollars.

Even if you live nowhere near the ocean, considering flood insurance like the kind that is offered by our friends at Chubb is a smart idea. Especially when you consider that just a few inches of water can add up to 10’s of 1000’s of dollars in damage.

All homeowners need to be aware that although some homeowner policies offer limited coverage for water damage, it does not offer protection from flooding. (For example, you may be covered for water damage due to a sump pump failure or a burst pipe.) Flooding is typically a standard exclusion on all home insurance policies.

We would love to discuss your options for coverage including policies from high-end carriers, such as CHUBB that offer specialized flood products for existing insurance clients.

 

Why Consider Flood Insurance From Our Friends At CHUBB?

We can think of a few reasons…

• The limits go beyond what is offered in the National Flood Insurance Program including up to $15 million in total property coverage for your home and its contents (NFIP is $250,000 for home and $100,000 in contents).
• At the time of the loss, you have Chubb Claims Adjusters Handling the loss, not a federal agency.
• It offers some protection for your possessions stored in your basement which is generally not covered.
• It offers some protection for the finishings in your basement which is generally not covered.
• Should you be displaced while repairs are being made, you will receive additional coverage for living expenses.
• The policy will cover the cost of preventative measures such as sandbags or moving property out of a flood warning area.
• You will also have coverage for the removal of any debris after the storm.

 

Advice from Your Insurance Advocate

Don’t wait. If you have not explored the possibilities of implementing flood coverage, give us a call. After all, if the past couple of years have taught us anything it’s this…expect the unexpected. Rain happens and so does flooding so it makes sense to be proactive about your insurance coverage. You shouldn’t wait until you hear about a storm heading your way to put coverage in place! If you have any questions or concerns, please give us a call.