Hard to believe Hurricane season is upon us...can't help but thing about flooding...so many times, people say "I'm not in a flood zone..." but the truth is, EVERYONE is in a flood zone...and the majority of people are not insured in the event of a flood.
They either believe incorrectly that their Homeowner's insurance, or Landlord if renting-(not all Landlords have flood insurance, but if they do-it doesn't cover the renter's personal effects), provides coverage...
Homeowner's insurance, Renters Insurance, Fire Insurance-ALL excludes MANY coverages...Flood is one of them...
Some people think it it would never happen to them...or believe if it did...the Government will help them...WRONG!
It can happen to ANYONE, anywhere...regardless of where you live...and the government in some cases offer loans (not free money)-interest loans, but not every one is entitled to them...and the cost of repaying a loan is MUCH more expensive then the cost of insurance.
So, let's talk about what a Flood is...anyone know? Here's a hint..it's NOT just hurricanes...
A flood is a great flowing or overflowing of water, especially over land areas that are normally dry. There are several types of flooding:
Coastal flooding occurs when hurricanes and storms produce heavy rains or drive ocean water onto land. Coastal flooding is also produced by tidal waves created by storms, earthquakes, or volcanoes. Beaches and houses are often swept away by the force of the water.
River flooding is normally seasonal because of snowmelt or heavy rains. The water fills the river basin too quickly and the river flows over its banks. The floodplain becomes covered with water, often damaging homes and other property.
Flash flooding is caused when small and powerful fast-flowing rivers are quickly formed because of excessive rainfall or dam failure, sometimes triggering catastrophic mudslides. Flash floods can be powerful enough to carry away roads, bridges, and other structures, and can occur with little warning.
The funny thing is- most people only buy flood insurance when their mortgage company requires it; and cancel it once the mortgage is paid for...many people incorrectly believe the cost of flood insurance is so high, that they don't even bother getting a quote...the truth is, the majority of homes actually qualify for the Preferred flood premium, a fraction of the cost for homes located in a high-risk area.
For a free quote, email me at w@newkentinsurance.com or go to www.newkentinsurance.com. While working on your Hurricane Preparation Kit, be sure to add Flood Insurance to your check list... I'll be glad to help..and it will give you peace of mind!
Wendy J Roundy, CPIA, CISR, ACSR
President of New Kent Insurance Agency
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