Did you know that most home and business insurance does not cover flood damage? Unfortunately, many people discover this after they’ve incurred losses from heavy rains or other flooding. At Comaltex Insurance, we work to educate our customers concerning insurance coverage. The only thing worse than not having insurance is discovering that you don’t have the right coverage when time comes to make a claim. Let’s explore how you can protect your home or business in the event of a flood.
In 1968, the federal government created the National Flood Insurance Program to help individuals and businesses protect their homes, belongings and assets against floods and the disasters related to them. As long as your community participates in NFIP, you are eligible to purchase flood insurance backed by the U.S. government. Participating communities are required to uphold standards set by FEMA in order to reduce flood risks.
Recent flooding in the Lone Star State as well as Louisiana have affected areas not generally considered to be flood plains. Fortunately, communities participating in NFIP can be located anywhere in the country, and Comaltex Insurance can help you determine what flood insurance options are available in your neighborhood. As with most insurance policies, the lower your risk of flood damage, the lower your premiums are likely to be.
There are two insurance coverage, building coverage and contents coverage. Building coverage insures the building structure itself along with interior systems such as electrical and plumbing. Contents coverage provides insurance for personal belongings such as clothing, electronics and furniture as well as carpeting and some smaller appliances. Your Comaltex Insurance agent can help you determine what flood insurance is right for your home or business.
It’s never too late to learn about flood insurance, but Comaltex Insurance encourages you to take action before disaster strikes. For more information, contact us today.