If you’re looking for flood insurance in Ohio, we’ve got you covered.
There’s something you should know. Homeowners insurance does not cover flood damage. Flood insurance MUST be purchased as a separate, stand-alone policy. In some zones, your mortgage company may also require that you purchase a flood insurance policy.
When most people think of a flood, they might think of events like Hurricane Katrina, or Hurricane Sandy. Huge devastating storms that cause billions of dollars in damage.
In reality, most floods are caused by far less catastrophic situations. In fact, it only takes a few inches of standing water to cause tens of thousands of dollars.
Floodwaters have the power to damage not only your home and sense of security, but also your financial future. How can you protect your most important investment in case of flooding?
In most situations, you will have a 30-day waiting period when you buy flood insurance. So, if the weather forecast announces a flood alert for your area and you go to purchase coverage, it’s already too late. You will not be insured if you buy a policy a few days before a flood.
But won't I get Federal disaster relief if a flood hits?
Many people wrongly believe that the U.S. government will take care of all their financial needs if they suffer damage due to flooding. The truth is that Federal disaster assistance is only available if the President formally declares a disaster. Even if you do get disaster assistance, it’s often a loan you have to repay, with interest, in addition to your mortgage loan that you still owe on the damaged property.
Most importantly, you must consider the fact that if your home is flooded and disaster assistance isn’t offered, you’ll have to shoulder the massive damage costs alone. The bottom line is that if you’re looking for secure protection from financial loss due to flood damage, Federal disaster assistance is not the answer.
Don’t wait until it’s too late!