April Showers Bring WHAT?

 

April Showers

I’m sure you’ve heard the saying “April Showers Bring May Flowers” but they can bring a lot more!  Depending on your location, you may see Rain or Snow or Sleet & Freezing Rain - and weather patterns are changing so even though you never saw it before – you could now!  But all that wet stuff is no April Fools joke if it happens at your home.  In fact, it could cause FLOODING, which is no joke! 

The term Flood is interpreted differently by different people, but to the insurance industry, water that is outside of your home and comes into your home is generally excluded from coverage.  Most homeowner policies offer endorsements that can be added for water that backs up through sewers, sumps and drains, but usually you will need to ADD the coverage (Unless your agent is proactive and suggests it first!). 

True Flooding is always excluded from homeowner insurance, but most people have the option to purchase Flood Insurance through the National Flood Insurance Program (NFIP).  Recently some private flood insurance markets have opened, and in many cases offer much broader coverage than the government (NFIP) policy.   

Flood Insurance can be very confusing and expensive in some cases (depending on your community and location).   In some homes personal belongings in the basement cannot be insured (even if you pay for contents coverage).   And just because you have a flood, you may not have coverage (depending on the location, other homes or locations may need to be affected for coverage to apply!).

And while Flood is not excluded on auto insurance (if you carry comprehensive or “other than collision” coverage), you should NEVER drive through standing water -it can be very dangerous!

Before you purchase flood insurance, be sure to discuss it with your trusted advisor (hopefully ME) to make sure you are spending your insurance dollars wisely and make sure you are properly protecting your property!