Flood Insurance

Your homeowners insurance policy won't cover flood damages and losses.

Flooding can cause significant damage to your home, psyche and wallet. If you're relying on your homeowners insurance policy to help cover your most important investment should it end up waterlogged, you're in for a rude and expensive surprise. Your homeowner's policy won't cover flood damages and losses, so you have two options for relief should disaster strike. 

Option 1: Hope that you'll receive Federal disaster relief if a flood hits.

While the U.S. government can offer disaster assistance to flood victims, that federal assistance is only available if the President formally declares a disaster. IF you get this assistance, you'll have to repay the money with interest along with whatever you owe on your mortgage for the damaged property.

Of course, the President doesn't formally declare a disaster, no federal aid will be available to help you cover the massive flooding damage costs your home incurs. So, relying on the potential for federal aid is a risky, and potentially costly proposition.

Option 2: Buy flood insurance and stay protected no matter what.

If you have a flood insurance policy, you'll be covered for flooding claims, even if the U.S. government doesn't declare a disaster. You'll be reimbursed of all of your covered losses, and you'll never have to worry about repaying your insurance company for those reimbursements.

But don't wait until the last minute to get a flood insurance policy. These policies don't take effect until about 30 days after they're purchased. So if you decide to buy a policy a few days before flooding is anticipated, you won't be covered for any imminent damage. Buy early, and be prepared!

Personal Residential NFIP Flood Program

1. All eligible buildings located in participating NFIP communities
2. A 30-day waiting period will apply to all new policies, except when the building is a loan-closing or a map revision
3. Single Family Dwelling - Building coverage up to $250,000, Contents coverage up to $100,000
4. 2-4 Family Dwelling - Building coverage up to $250,000, Contents coverage up to $100,000
5. Other Residential - Building coverage up to $250,000, Contents coverage up to $100,000
6. Preferred Risk Policy coverage availability for eligible buildings located in Flood zones B, C, or X
7. Contents Only coverage availability for renters. Premiums start at as little as $39 per year

Residential Private Flood Program

1. Coverage offered on a surplus lines basis by Hiscox, ACE, and Western World.
2. Policies includes Loss Use or Loss of Rents coverage at $5,000.
3. NFIP and PFA Plus Comparison Brochure.

25% of all flood damage occurs in low moderate flood risk areas. Don't be fooled by a line on the map, everyone is at risk of flooding. Contact the professionals at G & H Financial Insurance for assistance with flood insurance for your home at 281-395-5497.