With the recent news of devastating floods in Texas, Florida and surrounding states, the question of whether or not one should carry flood insurance is in the forefront of many people’s minds. At Rand, we believe everyone should consider purchasing a flood policy, regardless of whether or not you are in a “special hazard flood zone.”
In fact, we’ll be happy to provide a flood insurance quote as well as a synopsis of coverage. That way you can decide, with facts, if the purchase is appropriate for you.
Some statistics show that only 12% of homeowners carry flood insurance and that only 25% of flood losses are insured by a flood policy. We must continually impress on our clients that flood damage is NOT covered by a homeowners policy. The basic flood policy can cover up to $250,000 of dwelling insurance and $100,000 of contents insurance. Excess flood insurance is also available and many times is necessary.
It is true that flood insurance can be expensive, but premium is determined by many factors. Based on the risk, the premium could be as low at $450 a year – a small price to pay to protect you. We recommend that our experts at Rand review your possible risk and let us get a quote for you.
The bottom line is that these big hurricanes keep coming, so we recommend that you give flood insurance some consideration and contact Rand!