Know The Facts About Flood Insurance

Do you have flood insurance? If you just said that your homeowners insurance policy covers flood damage to your home, you are in for a rude surprise. According to FEMA, the only way for you to have flood protection for your home and possessions is to purchase a federal flood insurance policy from an insurance agent. Here are other facts about flood insurance that you may not be aware of:

Flood insurance will cover flooded basements. There is no set water level before your flood insurance coverage kicks in. So you can get help with the clean-up expenses for your flooded basement.

Flood insurance isn’t just for homeowners. Condominiums, apartments, farms and nonresidential buildings are also covered by flood insurance.

Flood insurance can be purchased by people who already experienced a flood. You can still purchase flood insurance if your community participates in the National Flood Insurance Program (NFIP). Also, you can purchase it anytime, even when a flood is predicted to happen in your area in the near future. Flood insurance does have a 30-day waiting period before it goes into effect, so it won’t cover flooding that happens within that timeframe.

Federal disaster aid won’t always be available to you. The flood has to be considered a Presidentially-declared disaster for federal aid to be available. Also, the disaster aid is often a loan that you will have to pay back with interest. Flood insurance payments will always be available even if the flood isn’t considered a disaster.

For more information about personal and business insurance in California, please contact Pulp Street Corporation located in Westminster at 714-379-7410. We provide insurance services for Los Angeles, Orange County and throughout California.

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