Spring has sprung, and even though many in the country are still suffering under the dying spell of winter, evidence abounds that a gradual thaw is in effect. While this fact may sound like great news to the majority, the insurance industry is seeing it as a reason to brace for the increased chances of floods and reminding homeowners that now is the time to seek coverage. But don’t bother asking your dedicated agent for a quote for homeowners insurance flood protection—standard homeowner policies don’t offer protection against floods.
So what do consumers who live in high risk areas do to protect themselves against the possibility of floods? The National Flood Insurance Program (NFIP) www.floodsmart.gov offers flood insurance policies that are separate from homeowners insurance policies, and are the primary resource for consumers looking to shore up protection for their assets. Coverage can also be obtained from private flood insurance companies, but these are few and far between.
To verify coverage for all other types of disasters and scenarios—both predictable and unpredictable—consumers are urged to shop around to see what’s out there, even if they’re already happy with their existing coverage. Insurance industry experts are in unison on the opinion that it’s important for consumers to compare homeowners insurance policies as a way of guaranteeing the best level of coverage at the best possible prices.
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