Floods have become a way of life for many people all over the United States. Places that have never experienced flooding before now are in danger of rising seas and changing weather patterns. Home insurance, condo insurance, and renters insurance won’t cover floods. If you live in a community that is part of the national flood plan, you may want to consider adding flood insurance to your portfolio. At Bronson Insurance Services in Oak Creek, WI, we represent some of the best carriers in the business, and we will make sure you get the insurance you need at a price you can afford.
Flood insurance is issued through FEMA by the National Flood Insurance Program. About 60 carriers have been authorized to offer this government-supported flood insurance, or you can get it through NFIP Direct. In order to purchase it, you must live in one of the participating communities. You can also purchase flood insurance that is not from NFIP and if your needs go beyond the limits allowed with the federal program, you may need to.
Flood insurance is sold in two parts, property and contents. You can purchase either one of them alone or both, it’s your choice.
Property coverage is for the physical building including walls, floors, and roof. It also includes permanent fixtures like the major systems in the home, electric, HVAC, and plumbing. The limit of this policy is $250,000.
Contents coverage is all the moveable things, your personal possessions, window AC unit, washer, and dryer, electronics, and furniture. The limit of this coverage is $100,000. This may not be enough for some people to cover their personal property which would make using another flood insurance type a viable option.
Contact Bronson Insurance Services in Oak Creek, WI with all your questions and concerns about flood insurance.