When most people think of a flood, they might think of events like Hurricane Katrina or Hurricane Sandy. These were huge devastating storms that caused billions of dollars in damage.
In reality, most floods are caused by far less catastrophic situations. In fact, it only takes a few inches of standing water to cause tens of thousands of dollars in damage.
A flood event is defined as anytime there is water coming into your building from an outside source. In fact, it could be heavy rains that come in through a basement window or an overflowing nearby creek or storm drain that enters into your home.
Homeowners insurance does not cover flood damage
Regardless of whether you live in Southeast Alaska, or any other part of Alaska, flood insurance has to be purchased as a separate, stand-alone policy.
If you live in certain flood zones your mortgage company may require that you purchase a flood insurance policy.
If you live outside a high-risk zone, or if you no longer have a mortgage, flood insurance is optional.
What do you need to know about getting a flood policy?
If your community participates in the FEMA flood program then you may need an elevation certificate, provided by a licensed surveyor.
If your community does not participate in the FEMA flood program then you may not need an elevation certificate, however non-participating communities often come result in a more expensive flood premium.
How much could a flood actually cost you?
When you’re considering whether or not you need a flood policy, think about what would be damaged or lost if even just a couple inches of standing water made its way into your home.
Please call our office today to see if a flood policy is right for you.