Many believe that their homeowner’s insurance will cover them in the event of a flood. However, most standard homeowner’s policies do not cover flood damage. If you live in an area prone to flooding, you may need a separate flood insurance policy. Freeland Insurance agents in Oklahoma City, OK are ready to answer your questions.
What is Flood Insurance?
Flood insurance is a type of property insurance that covers losses and damage caused by floods. Flood insurance can be purchased through the National Flood Insurance Program (NFIP) or from a private insurer. NFIP flood insurance is available to homeowners, renters, and business owners who live in participating communities.
Do I Need Flood Insurance?
If you have a house or business considered at risk for flooding, your mortgage lender probably requires you to have a flood insurance policy. Even if you don’t have a mortgage, purchasing flood insurance is still a good idea if you live in an area susceptible to flooding.
What Does Flood Insurance Cover?
An NFIP policy protects your home or business from all types of flooding, including hurricane-related storm surges, riverine flooding, flash flooding, and mudslides. Coverage limits for building structures start at $250,000 and go up to $500,000. Limits for content coverage begin at $100,000 and go up to $500,000. Higher limits are available for both building structures and contents through private insurers.
How Freeland Insurance Can Help
Flooding can occur anytime and anywhere—even in areas that have never experienced flooding. If you live in Oklahoma City, OK, contact Freeland Insurance today to get more information and details.