Archive for the ‘Insurance’ Category



Did you know that your homeowners insurance does not cover water damage due to natural flooding? Overflowing rivers, tidal surges, city storm drain backups, and storm driven rain may flood your home but unless you have specific coverage against these perils, you’re likely on your own.

In addition to natural flood disasters, your homeowner’s insurance policy most likely specifically excludes flooding due to sewer backups and “seepage.” Some insurance companies do offer special endorsements for coverage due to sewer backups. If you want this type of coverage, call your insurance agent and see if it’s available. Water seepage is considered a maintenance issue and is not generally covered by insurance. Your best protection against water seepage is to evaluate and maintain your home.

Flood insurance is available to cover your home against flooding. This type of insurance is often referred to as a “single peril” policy. The National Flood Insurance Program offers policies covering natural flooding such as storm surges, snow melt, heavy rains, levee failures, blocked storm drains, and other flood events. However, a flood must be significant enough in order for the flood insurance to kick in. For example, the floodwaters must either affect two or more properties or cover at least two acres.

Some lenders require flood insurance policies, normally if you live within a designated flood plain. Flood hazard maps are used to determine a property’s risk. High risk properties need a standard policy.

If you don’t live in a flood plain, you probably won’t be required to obtain a flood insurance policy. However, flood insurance is available for low to moderate risk properties. Nearly 25% of all flood insurance claims are located in these lower risk areas. Policies for low-to-moderate risk properties are less expensive. These policies are called “preferred risk” policies.

You can purchase flood insurance from your own insurance agent or locate an approved insurance agent through the FloodSmart.gov Web site. Shopping around for flood insurance isn’t necessary because rates are set by the National Flood Insurance Program and are based on flood maps.

An interesting note if you’re considering buying flood insurance is that there is a 30-day waiting period before your policy goes into effect. You can’t look at the weather report and decide to buy flood insurance just before a hurricane makes landfall. The two exceptions to this waiting period are when the initial purchase is made in conjunction with certain loans in high risk areas or when the initial purchase is made within a year of a flood map change.

Water damage can and will occur regardless of whether you have flood insurance. Having the right type of policy can help you pay for repairs. The Dryout Network is experienced at drying out and restoring your water damaged home or business as well as working with the various insurance claims processes.

Mark Decherd asked: water damage

Its Flood Season in Georgia

A. J. Lentini asked: mold removal

Home+Insurance%2C+Flood+Alert%7C%3Cbr%2F%3E%3Cbr%2F%3EThe+Royal+Institution+of+Chartered+Surveyors+warns+that+if+you+can%27t+get+insurance+for+your+house%2C+you%27re+in+big+trouble.+Mortgage+lenders+won%27t+lend+on+houses+that+are+uninsurable+and+as+a+result+its+value+could+fall+by+up+to+80%25.%3Cbr%2F%3E%3Cbr%2F%3EIt%27s+a+high+flood+risk+that%27s+most+likely+to+make+your+house+uninsurable.+According+to+a+recent+survey%2C+6.5+million+homes+are+already+at+risk+from+flooding+of+which+1.5+million+are+in+high+risk+areas.+The+government+has+completed+flood+defences+in+many+such+areas+and+protection+for+a+further+80%2C000+homes+is+due+this+year.+But+concerns+have+also+been+expressed+about+a+further+120%2C000+new+homes+planned+for+the+Thames+Gateway+which+are+potentially+in+a+high+%22at+risk%22+zone.+Yet+many+areas+remain+vulnerable.+And+if+global+warming+continues%2C+by+2030%2C+the+1.5+million+at+risk+could+mushroom+3.5+million.+Back+in+2003+the+Association+of+British+Insurers+%28ABI%29+agreed+the+principles+which+committed+UK+insurers+to+offering+home+and+contents+insurance+for+properties+in+areas+which+are+assessed+to+be+at+a+flooding+risk+once+in+seventy+five+years+or+more.+The+rider+was+that+the+flood+defences+had+to+be+already+in+place+or+would+be+completed+by+the+end+of+2007.%3Cbr%2F%3E%3Cbr%2F%3EThe+Department+for+Environment%2C+Food+and+Rural+Affairs+%28DEFRA%29+has+the+responsibility+of+developing+and+maintaining+these+flood+defences+but+within+the+insurance+industry+there%27s+widespread+concern+that+insufficient+progress+is+being+made.+As+a+result+the+insurers+have+has+warned+the+government+that+there+could+be+widespread+withdrawal+of+insurance+cover+if+progress+is+stepped+up.%3Cbr%2F%3E%3Cbr%2F%3EIn+the+mean+time%2C+those+in+areas+threatened+by+flood+water+could+find+their+insurance+premiums+soaring.+Whilst+the+insurance+industry+agreed+to+provide+insurance+cover%2C+their+commitment+was+simply+to+maintain+premiums+at+%22reasonable%22+levels.+But+there+was+no+definition+of+what+%22reasonable%22+means.+As+a+result+premium+increases+of+60%25+have+been+common+with+up+400%25+increases+in+bad+areas.+In+a+tiny+number+of+cases%2C+cover+has+been+withdrawn+altogether%2C+mostly+in+country+areas+where+DEFRA+considers+the+cost+of+defending+a+cluster+of+a+few+homes+to+be+uneconomic.%3Cbr%2F%3E%3Cbr%2F%3EEnvironmentalists+warn+that+unless+DEFRA+gets+it%27s+skates+on%2C+the+UK+%27s+current+bill+for+flood+damage+could+rise+from+%A3950+million+a+year%2C+to+%A33.2+billion.+After+all%2C+the+average+insurance+claim+for+household+flood+damage+is+%A330%2C000+-+that%27s+even+higher+than+fire+damage.+And+localised+events+like+the+2004+flood+at+Boscastle%2C+Cornwall+%2C+can+cost+the+insurers+over+%A315+million.%3Cbr%2F%3E%3Cbr%2F%3EIf+you+are+in+any+doubt+whether+your+home+or+proposed+home%2C+is+in+a+flood+risk+area%2C+you+should+visit+http%3A%2F% 2Fwww.environment-agency.gov.uk. +This+is+DEFRA%27s+web+site+where+you+can+check+whether+they+think+your+home+is+at+risk+of+flooding.+Their+maps+were+originally+designed+for+planning+purposes+and+provide+information+on+a+post-code+basis.%3Cbr%2F%3E%3Cbr%2F%3EWhilst+many+insurers+use+the+DEFRA+information%2C+others+like+More+Than%2C+have+their+own+flood+maps.+These+assess+homes+individually+rather+than+post+code+areas.+This+means+that+if+your+existing+insurer+increases+your+premium+for+flood+risk+and+uses+the+DEFRA+information%2C+you+may+still+be+able+to+get+a+cheaper+rate+from+an+insurer+using+it%27s+own+flood+data+if+its+data+identifies+that+your+property+is+beyond+the+%22at+risk%22+zone.%3Cbr%2F%3E%3Cbr%2F%3EThe+ABI+has+recently+added+to+the+pressure+on+DEFRA+to+accelerate+the+building+and+upgrading+of+flood+defences.+It+has+warned+that+unless+the+government+increases+its+spending+on+flood+defences%2C+the+insurance+industry+may+not+continue+their+commitment+to+the+2003+principles.%3Cbr%2F%3E%3Cbr%2F%3EThat+would+be+bad+news+for+many+homeowners.

Michael Challiner asked: flood damage restoration

Diminish Flood Damage to Your House

If you have a house on the flood plains, then you know one of the only ways to keep your home standing is to prevent major flood damage. You cannot forecast exactly when or where floods will occur, so you need to take steps to make sure that if your house is hit, the damage [...] → Continue Reading Diminish Flood Damage to Your House



A homeowner is practical when he insures his home and the content. One must know whether the area he is residing in is high-risk, moderate-risk, or low-risk. The rates depend on the risk and the flood insurance coverage is also determined. The insurance premium covered by the company depends on these factors.

The coverage varies from one homeowner to the next. But first, they must be eligible for the coverage at the rate that they prefer and the rate that the insurance can offer them.

Preferred Risk Policy premiums are said to be really low if it is made available through the NFIP. The building and the contents of the flood insurance coverage is reasonable. As a matter of fact, it starts at only $100 per year.

If the homeowner fails to qualify for the Preferred Risk Policy, he can check the standard rated policy that is made available to him. This is $25 of all federal claims for those residing in moderate-to-low risk areas.

However, is the homeowner resides in a high-risk area, coverage from insurance companies are also made available to him. There is a separate content and buildings coverage which is more reasonable when it comes to the flood insurance rates.

One can check the form that is provided by the insurance companies. The General Property Form that a customer fills up requires the information that the insurance company needs in order to determine the rate and whether the client is eligible because he is within the insurance coverage.

The calculation of the premiums depends on the following factors. There are the years of the construction of the building and the years the occupant has been staying there. If it is a condominium, the number of floors is also a factor.

The location, as said in a previous paragraph is a crucial indicator whether the client is still within the flood insurance coverage, as well as the flood risks. If the customer is in a flood zone, there are still companies that can provide them with the flood insurance that they need but at a higher price.

Also, the federal law requires the homeowner to purchase a flood insurance policy especially when the area he is residing is high-risk.

By learning one’s risk and estimating the premiums by checking the flood insurance coverage, and finding an agent one can speak with regarding concerns, the homeowner can sleep better at night.

Ricky Lim asked: water damage

How to Purchase Flood Insurance

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The National Flood Insurance Program (NFIP) was established by congress. Texas residents have a large share of the policies and claims with this program. Special risk factors for Texas include a large coastal area, frequent tropical storms, large areas with low elevation, and rapid property development.

The main purpose of the NFIP is to reduce destructive flooding events and to make affordable flood insurance available to home and business owners. The NFIP works with local governments to develop standards and programs to reduce flooding in developed areas. However it is impossible to prevent flooding so these efforts are combined with an insurance program.

In order to be able to establish a fair rate system, FEMA has established a map system to identify the relative risk of mapped areas. The areas that have a low to moderate risk of flooding are assigned a zone of B, C, or, X. Rates for these areas are quite low and yes, these areas can still suffer major flood damage. High risk zones start with an A or V and statistically have a 26% or greater chance of flooding over the term of a 30 year mortgage.

If you have a home with a mortgage in a high risk flood zone your mortgage company will require that you have a flood policy. You don’t have to get this policy from the NFIP but that is usually the least expensive place for flood insurance. If the home or business was built after 1970 you will probably need an elevation certificate to get NFIP insurance in A or V zone. This measures how high your property is above sea level. There is a one time cost for the certificate that is usually around $300. The certificate is usually well worth the money because of the rate savings with the NFIP.

National Flood Insurance Program insurance is available from private companies that participate in the program. The rates are regulated by the government so it is not necessary to shop around. However it is best to get your policy from an agent that is experienced and knowledgeable with the program.

Glenn Lamb asked: flood damage

Why Everyone Should Have Flood Insurance

Rich Kahmer asked: flood damage restoration

Flood Insurance Quotes

Ricky Lim asked: Flood insurance policies and quotes require month of their question is that they are the assurance that they completely sign the clients with the nfip or the conditions that the specific circumstances examples are well informed by the national flood damage can be maid in order for and they are looking forbrbrit [...] → Continue Reading Flood Insurance Quotes



Most people around the world believe that flooding, earthquakes and other natural disasters have nothing to do with them. However this belief should be thoroughly verified. Even modern weather forecasts may be sometimes inaccurate or delayed. Mother nature always keeps some surprises for us up its sleeve, so why not be cautious in advance instead of suffering irreparable consequences afterwards? Disasters like river floods, heavy thunderstorms, hurricanes, levee failures, malfunctioning of drainage systems and so forth are those factors that can inevitably lead to flooding. So along with theft, burglary, fire, etc. the risk of flooding is really substantial. According to official statistics, almost ninety percent of natural disasters in the US are connected with flooding.

There are several ways to protect your property from the forces of nature. The best thing is to avoid purchasing a house in areas prone to flooding, or at least get acquainted with all the possible hazards related to that place, the topography of the area, the exact location of your house and the influence of weather conditions on it. Being aware of all this will enable you to make precautions either on your own or with the help of the professional contractors. If it turns out that risks of flooding are quite tangible in that area, you’ll have to look for an adequate insurance policy entirely covering all the related issues. It must be taken into consideration that standard homeowners policies don’t cover flood damage. Unfortunately this fact is frequently revealed just after the accident. You might be insured against hurricanes or earthquakes (that may be the cause of flooding), but unless your real estate is covered particularly against flooding, you’ll have to pay for everything on your own and that will undoubtedly double the inconveniences accompanying the accident.

Due to the high risk factors it’s not easy to find an insurance company providing suitable flood insurance. National Flood Insurance Program has been devised in 1968 as an alternative insurance provider. According to the agreement, if local communities implement all the possible measures in order to reduce or prevent future flood risks, the federal government with certain financial aid will provide them in case flood losses occur.

The cost of insurance varies depending on the location of the property. The closer you live to floodplains, the higher the rates. However, losses might be so huge in certain areas, paying high rates is always worth considering. Homeowners, whose property is located in considerably low risk areas, are enabled to refer to Preferred Risk Policy (PRP) with relatively low costs. Even if you don’t live in a flood zone, it would be still wise considering some kind of flood cover because in accordance to statistics, approximately thirty percent of flood insurance claims are exactly from the areas previously been considered as low-risk zones.

To get the best quote, do some research online and obtain the most suitable coverage for the lowest premiums despite the location of your real estate.

David Hunter asked: flood damage