It only takes three inches of water to cause over $10,000 in damage to a 1,000 square foot home

It only takes three inches of water to cause over $10,000 in damage to a 1,000 square foot home.

Floods are the most common natural disaster, causing billions of dollars in damage every year. While there's nothing that can be done to prevent a flood, having a flood insurance policy can prevent devastating financial burden from a flood-damaged home. We've put together a few facts to show the importance of obtaining flood coverage. Feel free to share this information with your customers.

Why purchase a flood policy?

• There has been a flash flood or flood in all 50 states in the past five years
• A standard homeowners policy does not cover damage sustained in a flood
• Federal aid is only provided when a flood has been declared a major disaster by the President, which only occurred 27 times in 2015
• Federal disaster assistance is typically a low-interest loan that must be paid back - a $100,000 loan at 4% interest would cost $447.52 per month, but a $100,000 flood insurance policy only costs $324 per year
• Flood coverage takes 30 days to go into effect unless purchased with a new home, so don't wait until puddles are already forming
• Homes outside of high-risk flood zones account for one-third of Federal Disaster Assistance for flood and 25% of all flood insurance claims

With policies starting at $146 per year, flood insurance is a cost-effective way to cover the things you own against flood damage. 

 

Lawley

Tom Ditzel

585-344-9505

1-844-4LAWLEY