Prepared With Farmers Flood Insurance
It only takes a few inches of water, and your home could need major repairs. Yet,
most homeowners policies don't cover flooding. Find out the facts, then see me for
flood insurance.
- Everyone lives in a
flood zone. You don't need to live near water
to be flooded. Floods are caused by storms, melting snow, hurricanes, and water
backup due to inadequate or overloaded drainage systems.
- Flood damage is not
covered by homeowners policies.
You can protect your home, business, and belongings with flood insurance from Farmers
-- up to $250,000 for the building and $100,000 for contents.
- You can buy flood
insurance no matter what
your flood risk is.
You can buy flood insurance as long as your community participates in the National
Flood Insurance Program. Flood insurance is a good buy even in low or moderate risk
areas. Almost 25 percent of all flood insurance claims come from low- to moderate-risk
areas.
- There is a low-cost
policy for homes in
low to moderate risk
areas. The Preferred Risk Policy is available for just over $100
a year. You can buy up to $250,000 of coverage for your home and $60,000 of coverage
for your contents.
- Flood insurance is affordable.
The average flood insurance policy costs about $300 a year for $100,000 of coverage.
In comparison, a disaster home loan for $50,000 can cost you more than $300 a month
over 20 years.
- Contents coverage is
separate, so renters can
get flood insurance. Up to $100,000
contents coverage is available for homeowners and renters. Contents are not automatically
included with the building coverage.
- Up to a total
of $1 million of
flood insurance coverage
is available for non-
residential buildings and
contents. Up to $500,000 of coverage is available for non-residential
buildings and up to $500,000 of coverage for their contents.
- There is usually a
30-day waiting period before
the coverage goes into
effect. Plan ahead so you're not caught without flood insurance
when a flood threatens your home or business.
Federal disaster assistance
is not the answer.
Federal disaster assistance is only available if the President declares a disaster.
Nine out of 10 disasters in the United States are not declared by the President.
Flood insurance pays even if a disaster is not declared.