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Do You Have Flood Insurance?

Did you know that in the event of a flood your homeowner?s policy may not reimburse you for damage to your home?

It?s a common misconception that all homeowners? policies cover flooding, and many homeowners don?t realize this until it?s too late. In fact, one disaster most of us do not plan for is flooding, according to A.M. Best Insurance Resource.
 
It?s important to note that the National Flood Insurance Program defines a flood as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or two or more properties (at least one of which is your property) from: 

  • Overflow of inland or tidal waters;
  • The unusual and rapid accumulation or runoff of surface waters from any source;
  • Mudflow

If you purchase flood insurance it will cover the following:

  • All covered losses
  • Flood damages even if federal disaster aid is unavailable
  • Come in low-cost policies for those who qualify
  • Guarantees compensation for flood damages because the Federal government back NFIP flood insurance

Additionally, flood insurance will reimburse you if these items are destroyed or lost in a flood:

  • Clothing
  • Furniture, housewares, bedding
  • Decorative items, lamps and lighting fixtures
  • Books, home electronics and computers
  • Washers and dryers
Purchasing homeowner?s insurance proves that you are a responsible homeowner. Be sure to take the extra step and protect yourself against all natural disasters, especially floods. For more information visit www.afi.org.

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