A Flood Insurance Update

Winter will soon be over, and the arrival of spring rain can lead to major flooding.  In the past 5 years, all 50 states have experienced floods or flash floods.  Flood insurance cannot be purchased during a flood.  There is a 30 day waiting period once the application is processed. Therefore, it is a good idea to start thinking about flood insurance right now.

According to www.floodsmart.gov, the official site of the National Flood Insurance Program, at least 25% of businesses that shut down after a flood never re-open. According to the same source, only a very small percentage of homeowners buy flood insurance.

Many business owners and homeowners are under the mistaken impression that their insurance policies cover them for damages arising from floods. While your personal insurance and/or business insurance policy may cover water damage, flood coverage is excluded.  Just like homeowner’s flood insurance, commercial flood coverage must be purchased separately in a dedicated policy.

Flood insurance policies cover physical damage to your property and possessions.  You can refer to the Summary of Coverage to help you better understand your policy and coverage.  (Read More)

At Roger L Daniel Insurance Agency we believe our greatest asset is the relationships we build with our clients and we are dedicated to being the right choice for all of your insurance and financial needs. We take pride in our ability to tailor a comprehensive package that maximizes your insurance protection while minimizing money out of your pocket.