Flood insurance protects against flooding which may occur due to storm surges, rising water, or overflowing rivers or lakes. If you live in zones that are high risk of floods, you may need to purchase flood insurance to protect your home. Even if you don’t live in such a zone, you may want to consider purchasing the insurance if your place has below-average flood protection, such as an elevated foundation.
Flood insurance typically comes with a higher upfront cost than homeowners insurance. However, most companies will offer a discount for customers who have this cover. While the insurance is necessary if your home is located in an area subject to flooding or the risk of flooding a low-lying area. For any issues, consult Maschoff Insurance at Ankeny, IA.
Policies That Cover Flood Damage
Flood damage is covered under most policies; however, there are some stipulations. The insurance policies are available if you have standard homeowners or renters insurance, or you can purchase a policy as a standalone policy. Flood insurance typically costs about 5–10% more than renter’s insurance or standard homeowner’s. While this insurance isn’t required by law, it’s highly recommended.
Even if you live in a location not typically affected by floods, you can still experience heavy rains or rapid snowmelt. Standard homeowners insurance doesn’t cover flood damage, but you can purchase it as an add-on to standard homeowners insurance. Flood insurance is typically more costly than standard homeowners insurance due to the risk of flooding in your area. You can buy it 180 days before the date when you expect to need it.
Give Us A Call
Flood insurance comes with higher premium. Talk to your agent about what your home’s insurance covers and what it doesn’t. Inquire about any additional coverages that is suitable to your home. Maschoff Insurance can help you get the right coverage. Call the team serving at Ankeny, IA and surrounding areas for service and advice.