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 |
Contents Only |
|||
|
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.
