Flood Insurance

There are a lot of advantages that come with being a property owner. If you would like to buy a home there are a lot of important factors to consider including the insurance coverage you need to have. A flood insurance plan is the type of coverage you may need. There are many reasons why having a flood insurance plan may be a good investment for you.

Coverage Protects Home

A key reason that you should get a flood insurance plan is to protect your home. The damage that can come with a bad flood could be very bad for your home and the cost of remediation can be significant. Unfortunately, there is not always great flood coverage through a standard home insurance plan. To ensure that your home is covered against the risk of flood, you will need to have a flood insurance plan that will cover this specific risk.

Coverage is a Lender Requirement

It is also very likely that your home loan provider will require you to have flood insurance in some situations. All lenders will review the FEMA flood zone map when providing a loan. If your home is located in a flood zone, the mortgage provider will undoubtedly require you to have flood insurance. They will also likely require that you have your plan approved and then escrow payments going forward to ensure compliance.

Property owners need to take their flood insurance needs seriously. If you are looking to properly insure your home here, you should call Smoller Insurance Agency. There are a lot of factors that can determine whether you need to have this insurance. The team with Smoller Insurance Agency can help you assess your insurance needs and give any support that you need to build and choose a new plan that is right for your situation.

Commercial Flood

Like home policies, commercial property insurance policies typically do not cover flood damage. However, floods are one of the most common and expensive natural disasters, so perhaps you should be considering a commercial flood policy.

Commercial Flood Coverage

If your place of business unfortunately floods, a commercial flood policy will help cover the repair costs for damaged electrical and plumbing systems, furnaces and water heaters, property and more.

Even if you aren’t in a high-risk flood area, a commercial flood policy may still be a wise decision, especially if you are located on a lower floor or snow tends to melt quickly in your town. Our agents will help you determine if you need a commercial flood policy and, if so, the best option for you.