What to Know About Flood Insurance

When you invest in a homeowners insurance policy, you may assume that it will provide coverage for any peril that you may encounter. However, your home insurance policy will not provide any protection for damage that is caused by a flood. Only a specific flood insurance policy will protect you from any rising waters.

While flood insurance is not required by law, your lender may require that you take out a policy when you buy a house. Even if you do not live in a high risk area, you should still consider a policy. If you have a mortgage through the federal government, you will also be required to invest in a policy. Your lender will inform you if you will need to invest in a policy when you are applying for a loan. If you live in a low risk area, you can benefit from much lower premiums while still having the protection that you deserve.

In 1968, Congress established the National Flood Insurance Program (NFIP) as a way to protect consumers from rising waters. While you can get a flood insurance policy from almost any insurance company, they will all be written through the NFIP.

Typical flood insurance policies will provide coverage for structural damage that is done during a flood, as well as damage done to your water heater, air conditioners, and furnace. The policy may also provide pay for clean up after the waters have receded. You also have the option to increase your coverage to protect your furniture and other personal property that is damaged during a flood.

When looking for the right flood insurance policy to protect your home, contact the insurance professionals at Aimpro Insurance in Phoenix, Arizona. We will work with you to make sure that you have the protection that you deserve, all at the right price to fit your budget.