When it comes to flood insurance and your condo, renters and homeowners insurance there are some important points to keep in mind.
A common question is, “I already have homeowners, renters or condo insurance – am I already covered?” The simple answer No. It is important to be aware that a standard homeowners, condo or renters policy does not cover damages resulting from a flood.
When it comes to flood insurance and your condo, renters and homeowners insurance there are some important points to keep in mind.
Homeowners, condo and renters insurance typically cover dwelling damage that comes from the top down; like as rain and wind damage, or originates inside like fire or burst pipes – but it doesn’t cover rising water and flooding. This is why you might want to consider purchasing a flood insurance policy.
There may be a waiting period for your flood policy to take effect. For example, there is a 30-day waiting period for National Flood Insurance Program (NFIP) flood insurance policies to become effective. This is why you can’t wait until you see a big storm on the weather channel, or wait until hurricane season to buy flood insurance for you home, apartment or condo.
Next, a “flood” is generally defined as “a temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
How much does flood insurance cost? This is the question most on people’s mind when they are shopping for a flood policy. Because flood insurance is not a one size fits all, and there are many factors that are taken into consideration in your premiums – the easiest way to get flood insurance rates is to contact an agent to discuss your situation. Then you can get an accurate flood insurance quote to see the cost.
You can look up your flood zone at:
FEMA Flood Map Service Center: Search By Address.
If you are looking for state specific Flood Insurance quotes, costs and information:
