Understanding Flood Insurance for New England Homeowners

Understanding hurricane damage  for business owners

Does homeowners’s insurance cover water damage?

Looking north from Walnut Hill Mansion

 

By Wikipedia commons

 

Most standard property owners’s insurance policies do not cover flooding caused by extreme weather conditions such as spring thaw or generalized inundating that originates from outside your dwelling. Even backed-up sewers are not covered on most plans unless you pay extra for this coverage.Homeowner’s insurance flood coverage for business owners

Between 2007 and 2011, the average homeowners inundation contend was almost  $ 30,000. A few inches of water injury inside your home can add up promptly. Buying deluge coverage could protect your family from severe financial loss. Learn more from SERVPRO of Middletown / New Britain

The cost for homeowners insurance, water injury mend and content substitution will vary depending on how much insurance you purchase and what it coverings. A homeowner’s plan with overflow insurance generally covers all buildings and contents. However, content insurance is optional, and the amount you need should be discussed with your agent.

If your residence is in a moderate-to-low-risk region, you might be eligible for opted inundation insurance rates if you include this product in your insurance portfolio together with other coverage such as auto insurance.Property located in flood zones

Homes located in flood zones are considered high-risk but are still eligible for standard-rate flood insurance policies. All homes located in high-risk flood areas that have a mortgage through a federally registered or ascertained lender must purchase a overflow insurance policy. Flood insurance premiums are based on certain factors including

Age of construct( s)

Occupancy numbers

Number of floors

Location of contents

Severity of inundate risk( rated flood zone)

The spot of the first( lowest) floor to the elevation requirement on the flood zone map for your area( used for newer buildings)

The opted deductible amount compared with the amount of building and content coverage

There are additional homeowner’s insurance coverage options offered by Safety. Review our products for more information on our endorsements.

Please contact your Independent Agent if you have any questions about your coverage. Your Independent Agent can also provide you with flood insurance mentions and coverage.

 

SERVPRO of Middletown / New Britain

Middletown, CT 06457
(860) 826-5169

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