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What Is
Flood Insurance?
Unlike a standard homeowners policy,
flood insurance covers losses to your property caused
by flooding.
Some of the things a standard flood
policy will cover include:
* structural damage
* furnace, water heater and air conditioner
* flood debris clean up
* floor surfaces such as carpeting and tile
You can also buy a flood insurance
policy to cover the contents of your home, such as furniture,
collectibles, clothing, jewelry and artwork.
Policies are available in three forms:
Dwelling (most homes), General Property (apartments
and businesses), and Residential Condominium Building
Association (condominiums).
It's important to know that if you
have a federally backed mortgage on a home located in
a high-risk area, federal law requires you to purchase
flood insurance. Also, if you've received a federal
grant for previous flood losses, you must have a flood
policy to qualify for future aid.
Benefits of Flood Insurance
Buying flood insurance is the best
thing you can do to protect your home, your business,
family, and financial security.
When you're a flood insurance policyholder
...
* Flood insurance compensates you
for all covered losses.
* Coverage is relatively inexpensive.
* You can depend on being reimbursed for flood damages
even if the President decides not to declare a Federal
disaster.
* You don't have to repay a loan, as you might have
to with many Federal disaster relief packages. Your
covered losses are paid in full.
* You can count on your claim being paid in the event
of a flood loss because NFIP flood insurance is backed
by the Federal government.
* Your agent can help you handle your claim quickly,
so that you won't have to put your life on hold if
your property is damaged by a flood. You can even
request a partial payment immediately after the flood,
which can help you recover even faster.
* Your flood insurance claims are paid by policyholder
premiums, not taxpayer dollars.
Any other questions? We'll be glad
to help. Call 860-283-0278
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