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Do You Need Flood Insurance?
The time is now to check for flood insurance before the waters start to rise <>
A lesson from last fall's hurricane season is that many people can't afford to be without flood insurance. ARe you oneof them? Floods are not always caused by nature. Melting snow, leaky roofs and busted pipes and more are frequent cause of home flooding .
"Many people incorrectly assume that regular homeowners insurance covers damage done by floods or rising waters. They don't realize until it is too late that all basic homeowners insurance policies exclude flood," says Terry McConnell of Erie Insurance Group. "Only flood insurance will cover losses in the event of a flood."
Flood insurance is available solely through the Federal Emergency Management Agency's (FEMA) National Flood Insurance Program (NFIP). There is a 30-day waiting period for the policy to go into effect. Act now before the spring storm season
FEMA reports that nearly 25 percent of flood insurance claims come from properties considered at low or moderate risk of flooding. Floods and flash floods occur in all 50 states and most people live or work in areas that have some risk of flooding. Even if you do not live in a high-risk area, flood insurance is a good idea.
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