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FLOOD INSURANCE
The Benefits Of Flood Insurance
Flood insurance is an insurance policy that covers the damages to one's property that are caused by flood. For the most part, basic home insurance policies don't cover flood damage, which is why homeowners flood insurance is often mandatory. Depending on the policy, homeowners flood insurance will cover everything from minor leaks to major floods.
And as stated by National Flood Insurance Program here are some of the key benefits of Flood Insurance:
- You are in control. Flood insurance claims are paid even if a disaster is not declared by the President.
- More than 20 percent of NFIP claims come from outside of mapped Special Flood Hazard Areas.
- There is no payback requirement.
- Flood insurance policies are continuous, and are not non-renewed or canceled for repeat losses.
- Flood insurance reimburses you for all covered building losses up to $250,000 for residential occupancies and up to $500,000 for businesses. Contents coverage is also available up to $100,000 for residential occupancies and up to $500,000 for businesses.
- The average cost of a flood insurance policy is about $600 annually. The cost of a preferred risk policy is less than $200 annually, if you live in a moderate-to-low-risk area.
Get coverage today, call P2 Capital Insurance Brokers, Inc. at (312) 600-7084 to speak with a flood insurance specialist, or browse our website for more information on the products we offer.
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