Why You Need Flood Insurance from Commonwealth Insurance Center in Williamsburg VA

If you have homeowners’ insurance, you might not know it doesn’t cover flooding. If you are in a flat area or on a flood plain and have a mortgage, your lender usually requires flood insurance. Even if you have paid off your home, you should consider getting flood insurance to protect your belongings.

Facts About Flood Insurance

Floods account for the most costly and frequent natural disasters in the country. They cause massive damage annually. Americans lose about $8.2 billion every year to flood-related property damage.

There are floods in every state and across all types of terrain. Over 20 percent of flood claims originate on properties that aren’t in a high-risk zone.If you carry flood insurance, you can file a claim even if there’s no Presidential Disaster Declaration in your area. These are just some of the compelling reasons to carry flood insurance.

One inch of water in your cellar can amount to $27,000 in damage. If homeowners insurance doesn’t cover your belongings, how can you get flood insurance?

Where to Buy Flood Insurance

You have to buy flood coverage via an insurer that belongs to the NFIP. The National Flood Insurance Program doesn’t sell insurance directly. Ask your Commonwealth Insurance Center agent in Williamsburg, VA to help you purchase coverage.

Here are some questions you should ask to educate yourself on flood insurance in your area. 

  • Does my neighborhood participate in the NFIP?
  • Which flood zone do we live in?
  • Is flood insurance required by my lender? 

Contact Commonwealth Insurance Center in Williamsburg, VA today to set up a free consultation about your options for flood and other insurance needs.