Flood 2017-04-20T12:15:41+00:00

What you need to know about flood coverage

Consider your house for a moment. It’s probably the biggest financial investment you’ll ever make. And if you’re like most of us, it’s not even close to being paid for. Having it damaged or destroyed would be disastrous.

So you buy insurance to cover the risks – like a Homeowner’s policy against fire. But did you know that, depending on where you live, your house could be four times more likely to be damaged by a flood than a fire? Floods are the leading cause of U.S. natural disasters and weather-related fatalities.

Think of all the people who said, “It won’t happen to me!”


If you follow the news at all, you know that floods happen year round and virtually everywhere. Sure, you’d expect flooding along the coast, but, believe it or not, almost 30% of all U.S. floods happen in so-called low- to moderate-risk areas. In the last 5 years alone we’ve had two major flood events in Massachusetts.

To apply for flood insurance today please click here to access our online application form. If you would like more information about this or any other type of insurance, please feel free to contact us.


Understanding Flood Insurance

Why is flooding so widespread, and what can you do?

It’s simple. The more land we build on, the fewer places water can drain. Then there are tropical storms and hurricanes that create storm surges, tornadoes and torrential rainstorms. There’s snowmelt, rising rivers, mudslides and just plain rain. When the ground can’t soak it all up and local drainage isn’t adequate, you have a real problem. If just two feet of water can float a car, imagine what it could do to your living room.

As exciting as Home & Garden TV may make redecorating your living room sound, buying more insurance is as exciting as paying more taxes. And it might seem just as complicated. But it doesn’t have to be, especially if you live in a low- to moderate-risk area. In fact, the flood insurance application that we use takes less than 5 minutes to complete.

When it comes to floods, what you don’t know CAN hurt you. Your standard Homeowners policy does not cover flood damage. Surprised? So are most property owners after a flood!


The term “flood” is carefully defined by insurance. It is then explicitly excluded from most policies. As a result, flood insurance is the best way to ensure that damages to your home or commercial property from a flood are covered. Tip: A Water Back-up/Sump Pump Overflow endorsement may be an inexpensive way to mitigate some water damage losses. We can review your policy and let you know if it is a good option.
Annual premiums for the National Flood Insurance Program’s Preferred Risk Policy are under $500 – less than $1.40 a day. That includes both building coverage and contents, and is less expensive than the interest on a Federal disaster loan.
The Federal Emergency Management Agency’s flood insurance is offered through the National Flood Insurance Program. Other insurance companies have entered the market, too, so building limits in excess of $250,000 are available, along with replacement cost for contents, and a wide variety of deductibles for lower premiums.


Other important flood facts

  • 90% of all Presidentially-declared disasters are flood related.
  • Under the National Flood Insurance Act, lenders must require borrowers whose property is located within a high-risk (Special Flood Hazard Area or SFHA) flood zone to purchase flood insurance as a condition of receiving a Federally-backed mortgage loan.
  • Federal assistance is only available in a Presidentially-declared national disaster. Less than 50% of all floods qualify.
  • If you are uninsured and receive Federal disaster assistance after a flood, you must purchase flood insurance to remain eligible for future disaster relief.
  • The average Federal grant for flood damage is around $2,500. How much of your property would that replace? If you receive a Federal disaster loan, it must be repaid, with interest!
  • Most new flood policies have a 30-day waiting period, so don’t wait until the last minute. Plan ahead!