Considering the fact that one-third of floods cause damage to homes that are far from any body of water, you may not need to be near a river or other body of water to need flood coverage. Your homeowner policy does not cover ground or below ground damage to your home.
The federal government, with the help of FEMA (also known as the Federal Emergency Management Program) created a program to provide insurance coverage in case of flooding called the national flood insurance program. Listed below are some of the benefits of purchasing flood coverage and also some information you need to know.
When you choose to participate in the insurance company, it covers damage from powerful rainstorms. The insurance provided by the government also protects your home in the event that your home is damaged from a flooded river or lake. Flood insurance, however, does not cover any personal property that is at or below ground level. So, this type of coverage will not replace your carpeting or finished walls in your basement unless it is a walkout basement (above ground).
If your house is located in a low-risk flood area, you can pay as little as $100 a year for flood protection. You can purchase a policy that covers flooding from an agent, typically, from the agent that handles your homeowners insurance. However, you must wait 30 days after purchasing a policy for your flood insurance coverage to kick in. Flood insurance is inexpensive and covers a wide variety of flood damage. Purchase some coverage today and protect your home from flood damage.
Joe Sloan has been writing articles online for nearly 4 years now. Not only does this author specialize in diet, fitness, and weight loss, you can also check out his latest website on Proform Crosswalk Treadmill which reviews the Proform Crosswalk treadmill. http://www.proformcrosswalktreadmill.net/
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