Flood Insurance

Why do I need flood insurance if I don’t live in a flood zone?

It’s a good idea to buy flood insurance even if you live in a low- or moderate-risk area. Almost 25 percent of all flood insurance claims come from areas with minimal flood risk.

A Preferred Risk Policy can insure your most valuable asset for pennies a day. Preferred Risk Policy rates are:

Building & Contents
Coverage 

Contents Only
Coverage

Coverage

Annual Premium

Coverage

Annual Premium

$20,000/8,000

$112

$8,000

$61

30,000/12,000

138

12,000

86

50,000/20,000

180

20,000

116

75,000/30,000

207

30,000

131

100,000/40,000

233

40,000

146

125,000/50,000

249

50,000

156

150,000/60,000

264

60,000

166

200,000/80,000

296

80,000

181

250,000/100,000

317

100,000

196

What is considered a “flood”?

A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder’s property) from:

  • Overflow of inland or tidal waters; or
  • Unusual and rapid accumulation or runoff of surface waters from any source; or
  • Mudflow; or Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.”

So, in plain English, a flood is an excess of water (or mud) on land that’s normally dry.

Your Hyde Park Insurance Services Agent will be happy assist you in determining your risk for having your home damaged by flood. Call us today: 813-288-0212 or use the form below.

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