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Bronson Insurance Services

2345 W Ryan Rd, Suite H
Oak Creek, WI 53154

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How Do Flood Insurance Policies Vary?

Flood insurance is a coverage that we at Bronson Insurance Services offer our many Oak Creek, WI customers. However, we know that some customers may want different types of policies or coverage options. Do flood insurance policies differ significantly or are they pretty similar?

Flood Insurance is Fairly Uniform

The federal government typically demands uniform flood insurance policies between different companies to ensure that citizens receive enough protection. As a result, you don’t find many variations between what policies do and don’t cover, as most cover everything a flood triggers.

The prices between different providers are typically also fairly uniform and only change depending on what level of coverage you purchase. While some regions may have specific minimal flood insurance policy requirements, others may have higher requirements or none at all. As a result, it is important to do a little shopping and compare first.

Differing Coverage Options

While federal regulations keep flood insurance fairly similar between the varying providers, it is also true that they do have a few differences. Chief among these variations is the overall coverage you receive. Simply put, some policies will let you choose how much money you want to receive.

Note that paying for higher coverage will also increase your premium costs. However, if you live in a high-risk flood area, you may be required by law to hold one of these higher-premium policies. Thankfully, relief programs may provide you with some compensation for these policy costs.

Give Us A Call

As you can see, flood insurance policies are typically fairly uniform and don’t vary a lot between insurance companies. That’s because they’re federally regulated in ways that others are not. If you’re curious about your options for Oak Creek, WI, call us at Bronson Insurance Services today.

What does flood insurance cover

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. 

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