Did you know that roughly 90 percent of natural disasters in the United States involve floods? This is one of the reasons why Robert Jain will recommend flood insurance, which will protect your property in the face of a situation like this. Despite this, there are many people that will look at this option and deem it unnecessary. For those that fall into this camp, here is what you should be aware of when it comes to said insurance.
You might be under the impression that purchasing flood insurance separately is unnecessary because it's included in the insurance you bought with your house. The truth of the matter is that these two are oftentimes mutually exclusive. In other words, one plan doesn't necessarily cover the other, which names like Bob Jain will tell you. Instead of assuming that you're completely covered, speak to your agent to learn more.
The way that most people buy flood insurance is through the NFIP, the National Flood Insurance Program. The NFIP offers two types of plans - one that covers homes and one that covers personal property - and it's possible to buy both if you're interested. Flood insurance covers many elements of your home that homeowner's insurance doesn't. Detached garages, water heaters, and permanently installed fixtures like bookshelves and cabinets are just a few elements that will be covered if a flood were to occur.
In order for flood insurance to come into effect, it's important to understand what's defined as a "flood." Keep in mind that this event can occur due to a number of circumstances, including natural disasters like hurricanes or even clogged pipes within homes. Furthermore, a flood has to cover at least two acres of land that's usually dry. These are just a few details, but they should provide you with an overview of whether your insurance will cover damages to your property.
As you can see, there is much to know about flood insurance and the protection that it offers. For those that are interested in making this investment, you can do so by speaking with your agent. It's not terribly difficult to buy flood insurance, but keep in mind that the earlier that you make this investment, the safer you and your loved ones will be. It takes about a month after the purchase date for said insurance to kick in, which is why early adoption is recommended.
You might be under the impression that purchasing flood insurance separately is unnecessary because it's included in the insurance you bought with your house. The truth of the matter is that these two are oftentimes mutually exclusive. In other words, one plan doesn't necessarily cover the other, which names like Bob Jain will tell you. Instead of assuming that you're completely covered, speak to your agent to learn more.
The way that most people buy flood insurance is through the NFIP, the National Flood Insurance Program. The NFIP offers two types of plans - one that covers homes and one that covers personal property - and it's possible to buy both if you're interested. Flood insurance covers many elements of your home that homeowner's insurance doesn't. Detached garages, water heaters, and permanently installed fixtures like bookshelves and cabinets are just a few elements that will be covered if a flood were to occur.
In order for flood insurance to come into effect, it's important to understand what's defined as a "flood." Keep in mind that this event can occur due to a number of circumstances, including natural disasters like hurricanes or even clogged pipes within homes. Furthermore, a flood has to cover at least two acres of land that's usually dry. These are just a few details, but they should provide you with an overview of whether your insurance will cover damages to your property.
As you can see, there is much to know about flood insurance and the protection that it offers. For those that are interested in making this investment, you can do so by speaking with your agent. It's not terribly difficult to buy flood insurance, but keep in mind that the earlier that you make this investment, the safer you and your loved ones will be. It takes about a month after the purchase date for said insurance to kick in, which is why early adoption is recommended.
About the Author:
To learn more regarding coverage, as a whole, contact Bobby Jain today.. Free reprint available from: What To Know About Flood Insurance, With Robert Jain.
ليست هناك تعليقات :
إرسال تعليق