What type of coverage do you need?

Who needs flood insurance? Everyone! There are many myths surrounding the issue of flood insurance and it is our hope to provide you the facts you need to know about this important part of your insurance portfolio.

MYTH: You can’t buy flood insurance if you are located in a high-flood risk area.
FACT: You can buy flood insurance if your community participates in the NFIP (20,000 communities have joined the program), except in Coastal Barrier Resources System (CBRS) or in other protected areas.

MYTH: You can’t buy flood insurance immediately before or during a flood.
FACT: You can purchase National Flood Insurance at any time. There is usually a 30-day waiting period after premium payment before the policy is effective. Certain exceptions may apply, contact your Trusted Choice agent for exceptions. The policy does not cover a “loss in progress” which is defined as a loss occurring as of 12:01am on the first day of the policy term. In addition, you cannot increase the amount of insurance coverage you have during a loss in progress.

MYTH: Homeowners insurance policies cover flooding.
FACT: Unfortunately, many home and business owners do not find out until it is too late that their policies do not cover flooding.

MYTH: Flood insurance is only available for homeowners.
FACT: Most people who live in participating communities, including renters and condo unit owners, are eligible to purchase flood insurance.

MYTH: You can’t buy flood insurance if your property has been flooded.
FACT: You are still eligible to purchase flood insurance after your home, apartment, or business has been flooded.

These are just a few of the myths many people hear of concerning flood insurance. Get the FACTS! New Jersey, Maryland, and Pennsylvania insurance clients contact our office today for more information. We hope that you never experience a flood, but getting the right information is crucial to helping you recover quickly. We’re The Weimer Group, an independently owned insurance agency with locations in Harleysville and Perkasie, PA.

Posted 5:08 PM

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