Full Coverage doesn’t mean Fully Protected

Once the snow melts…

We’re all tired of what seems to be the never ending snow by now! And soon the snow will melt, and we could have new problem ~ Flood!

So what can you do to protect your property? Homeowner insurance does not cover flood, but Flood insurance can be one option. Information is available at www.floodsmart.gov or from your insurance agent. Flood is usually defined as a general and temporary condition of partial or complete inundation of 2 or more acres of normally dry land areas or 2 or more properties from the overflow of inland or tidal waters or the unusual & rapid accumulation or run off of surface waters from any source or mud flow.

Many people think they don’t qualify for flood insurance because they are not in a flood zone, but that’s not true! The National Flood Insurance Program (NFIP) coverage is available to all owners of insurable property (building and/or contents) in communities participating in the NFIP. Pricing varies based upon the location & community participation. Some areas are obviously more prone to flooding and some communities have taken steps to minimize the chance of flooding.

Flood insurance may not protect everything in your home. Many people with basements have finished them into family rooms complete with furniture, carpet, high tech electronics, etc. If the basement is below ground (4 walls below grade as opposed to a “walk out” basement), coverage is limited for personal property to items such as washer, dryer, deep freezer and is “actual cash value” – not replacement cost.

But Flood insurance may not be the answer. In some cases, storm sewers are over taxed by the volume of water when snow melts (and usually rain that follows) and water will backup through drains. Check your homeowner policy to be sure your policy includes coverage for water backup. It’s usually inexpensive to add, but may be included automatically in some policies.

And move the snow that has accumulated (or been shoveled) near your foundation so it does not “seep” into your basement. Seepage is anther standard homeowner exclusion.

So give me a call, or send an email if you have questions, and remember, Spring will be here soon!