Did you know flood losses are not covered by your homeowners insurance policy? Flood Insurance Facts: According to FEMA, during a 30-year mortgage, you are 27 times more likely to have a flood loss vs. a fire loss. Just one inch of water can cause costly damage to your home. This is especially critical […]
Protect Your Home (and Bank Account) This Spring
Spring is just around the corner. The weather is soon warming, days are getting longer, and birds are returning. If you are like most people, you are welcoming the season with open arms. Spring, however, is also the time when heavy snow dissipates, leaving copious amounts of snowmelt water, just as rain showers and seasonal […]
Which Catastrophes Does Renters Insurance Cover?
Many tenants assume their property is covered under the landlord’s insurance policy. However, when catastrophe strikes, they may be left with little or no recourse to recover, since their landlord’s policy covers the building or home they rent, but not the personal property stored inside. Renters insurance provides financial reimbursement to cover the tenant’s lost […]
Does Your Homeowners Insurance Cover Flooding?
Standard homeowners insurance does not cover flood damage to your home or belongings. Meaning – if you want financial protection against events like hurricanes, storm surges, and overflowing rivers or lakes, you need to purchase separate flood insurance. According to the National Academy of Sciences, flood damage is expected to double every decade for the […]
Emerging increase in Heavy Rainfall and Lack of Homes carrying Flood Insurance
With the recent concern over Hurricane Joaquin, interesting statistics came out in the article “Why don’t property owners have flood insurance?” This article turns back to the destruction caused by Hurricane Sandy, causing $70 billion in damage where “less than half of those affected were insured”. Just a year later, flood damage further resulted in […]