Many people are unaware that standard homeowners and commercial insurance policies do not cover water damage resulting from ground water flooding. As we anticipate high levels of flooding this spring due to blocked drains, heavy rain and melting snow, it is important that you understand your options when it comes to fully protecting your home or business. This is where flood insurance shines.
Although most property owners typically have the necessary flood insurance when living in high-risk areas, inland areas are just as susceptible. Even if your home or business is located in a low-risk flood area, we highly recommend you consider adding this type of policy to protect yourself from costly repairs.
In addition to adding a flood insurance policy, it’s also important to safeguard your belongings by creating a personal flood file that lists information about your possessions. Be sure to keep it in a secure place, such as a safe deposit box or waterproof container. The file should include:
- A copy of your insurance policies with your agents’ contact information
- A household inventory: For insurance purposes, be sure to keep a written and visual (i.e., videotaped or photographed) record of all major household items and valuables, even those stored in basements, attics or garages. Create files that include serial numbers and store receipts for major appliances and electronics. Have jewelry and artwork appraised. These documents are critically important when filing insurance claims.
- Copies of all other critical documents, including finance records or receipts of major purchases
We highly recommend you consider purchasing flood insurance to help avoid the devastation that flooding could cause. If you would like to learn more about adding flood insurance to your current policy, please call Soucy Insurance at (401) 762-2218 today.
