Flood Insurance - You’ve Got This?

Flood Insurance  - You’ve Got This?

By John Cattau, Kirk Creek Insurance Services, LLC

Picture this: your living room has become a wading pool, your coffee table is now an island, and your couch is floating toward the kitchen. Surely your homeowners policy will have your back, right?

In insurance-speak, a “flood” means water covering normally dry land—affecting at least two acres or two properties—thanks to overflowing rivers, tidal surges, sudden rainwater or snowmelt runoff, or even a glamorous mudflow. Your  policy will happily pay for damage from a burst pipe but turns a cold shoulder to this kind of water invasion.

And don’t break out the champagne if you’re “not in a flood zone.” Over 20% of flood claims come from homes outside FEMA’s high-risk areas. FEMA’s maps are based on historical data—great for trivia night, not so great for predicting whether your street will become the next Venice.

That’s where flood insurance steps in. The National Flood Insurance Program (NFIP) offers up to $250,000 for your building and $100,000 for contents.  But for many homeowners this is not sufficient coverage. Private Flood coverage can offer more extensive protection and may throw in perks like loss-of-use coverage so you’re not camping in your damp basement.

An insurance professional can help you compare NFIP and private coverage, so when the waters rise, you’re equipped to bounce back—preferably without needing a canoe for your commute.

John Cattau, Managing Partner of Kirk Creek Insurance Services, LLC is a New York State licensed insurance broker BR-1917908. He can be reached at 929-456-2265.  Please visit www.kirkcreekinsurance.com for more information.

See our story in the Larchmont Ledger