Flood Insurance: Is it Worth the Extra Cost?

Did you know? An inch of water can cause thousands of dollars of damage and most homeowners insurance policies don’t cover flood damage. Floods have become more frequent in the last several years and April showers have already begun in New England. If you’re considering adding flood coverage to your policy, here are a few facts to keep in mind:

• Basements are the most vulnerable to flooding since they’re either fully or partially under ground level. Most New England houses have basements, all of which are susceptible to water damage this spring as a result of increased rainfall and melting snow. 
• Over 25% of American adults do not have an emergency fund. Most flood damage costs homeowners over $25,000 in repairs and replacements. This has the potential to cause financial devastation to a quarter of all Americans.
• No home is invulnerable to flooding. There isn’t a single foolproof way to prevent flooding in your house. The only way to ensure you’re not financially devastated by flooding is with flood insurance.

Just like any insurance policy, flood insurance protects individuals from potential financial devastation and is the only guaranteed way to protect against flood damage costs. 

Dayton Ritz + Osborne Insurance is here to help you keep your home in the best possible condition. Procuring flood insurance now could save you thousands in the long run. For more information on our home insurance policies and coverage, call us at 631-324-0420.

Disclaimer

The above description provides a brief overview of the term and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy or full details about coverage. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control.