Walter O. Rogers Insurance Agency LLC
Free quotes (607) 334-8924
Over 40 years of family expertise and quality service

FLOOD INSURANCE

Including rental and business properties

MOST HOMEOWNERS INSURANCE EXCLUDES DAMAGE BY FLOODING

WHY FLOOD INSURANCE

The Federal National Flood Insurance Program (NFIP) states "if you live in a high-risk zone you have a one in four chance of experiencing flood damage. Even low and medium risks account for 25% of all flood claims. Overall, the chances of flooding are five times greater than fire."

FLOODING DEFINED

A “Flood” is defined as a general and temporary condition of complete or partial inundation of normally dry land area by surface water, and the surface water can be from any source. In order for damage from the “flood” to be considered under the flood policy, the flood needs to be “a general condition” which means that it must affect two or more properties (one of which is yours) or if it is confined to just your property, it must cover two or more acres of land.

WAITING TO BUY FLOOD COVERAGE

There is a standard waiting period of 30 days before a flood policy becomes effective. If you delay, it may be too late. Insurance purchased in connection to loans or recently rezoned areas are an exception and are effective immediately.

IS FLOOD INSURANCE REQUIRED

If you have a federally backed mortgage on a home located in a high-risk zone, federal law requires you to purchase flood insurance to secure a loan. Also, if you've received a federal grant for previous flood losses, you must have a flood policy to qualify for future aid.

Typically if you live in a designated flood plain, the terms of your mortgage require you to purchase flood insurance.

MY HOME'S FLOOD ZONE

Enter your street address to find if you live in a flood zone:

floodmap

COST OF FLOOD INSURANCE

Depends on many different variables, but flood insurance through the National Flood Insurance Program is offered at below-actuarial rates. Call us to determine how much flood insurance coverage is right for your property and we can then determine how much it will cost. You can also use FEMA's simple worksheet to estimate the cost of flood insurance for your residence at http://www.floodsmart.gov/floodsmart/pages/premiumest.jsp

OBTAINING A FLOOD POLICY

We are a participating NFIP agent as well as representing private insurance companies. Feel free to contact us at (607) 334 - 8924 to discuss your Flood insurance needs.

Flood insurance is regulated by the federal government, rates are fixed, meaning all companies offering flood insurance must offer the same rate.

 

STANDARD COVERAGE

A homeowner (including an owner of a residential unit in a condominium building) may purchase up to $250,000 of building coverage and up to $100,000 in personal property coverage. A business owner may purchase up to $500,000 in building coverage to cover his owned building, and up to $500,000 in personal property coverage to cover his owned inventory and equipment.

NEED MORE THEN STANDARD

If your home is worth more than $250,000 we can help you obtain Excess Flood Insurance. The additional insurance could increase the policy coverage up to a total of $750,000. Businesses could extend coverage up to $1 million dollars.

FLOODED PROPERTY WHAT TO DO


  • CALL YOUR AGENT Check what coverages you purchased
  • Begin to dry out the building and personal property
  • Keep a/c (or if cool, furnace) running, to assist in drying out of the property; if no heating/cooling, keep windows open, have fans blowing to assist in drying
  • If your carpet and pad have been saturated by the floodwater, cut and remove the carpet and pad; save a small (2-feet by 2-feet square) piece of the carpet to show to the adjuster
  • If your carpet is damp, pull the carpet loose, remove the pad and dry the floor
  • Keep oriental rugs wet – roll them up and take to professional cleaners for proper cleaning or evaluation
  • Clean floors, walls, cabinets with mixture of 1-part bleach, 4-parts water
  • If cleaning is removing water lines, please take photos of the interior and exterior water line depth
  • Separate the damaged from the undamaged property; maintain control over the damaged property (keep it in the back yard or garage or shed if possible so that thieves do not remove it)
  • Begin writing a list of damaged property for the adjuster
  • Call for appliance repair company to have a technician clean, service and provide repair estimate for flood-damaged appliances
  • Call your heating company to have a technician clean, service and provide repair estimate for flood-damaged heating/cooling equipment