Flood Insurance

Time To Talk Insurance

This Months Topic: Flood Insurance

Flooding is the most common natural disaster that can occur anywhere or anytime, even if you do not live near water. Flash floods, inland flooding, and seasonal storms bring flooding to every region of the country and just inches of water can cause thousands of dollars in property damages. Your homeowner’s insurance and business insurance policy will most likely exclude any coverage for damage to your property from flooding. A flood insurance policy has to be written separately thru an insurance company and that provides this specific coverage.  The good news is that anyone can purchase a flood insurance policy even if your property is not in a flood zone.

 If your home or business is in a high risk flood zone the average premium for a flood policy is $500.00 a year. If your property is in a low risk zone or completely out of a flood zone the average premium is $119.00 a year. If you do decide to purchase a flood policy for your home or business here are a few important items to keep in mind: 1. Once purchased, there is a 30 day waiting period for the policy to become effective, so don’t wait to buy it! 2. You can purchase flood insurance if you have been flooded before, and you can purchase it even if your mortgage doesn’t require it. 3. About 25% of all insurance claims come from low to moderate risk flood areas. 4. Your community has to participate in the National Flood Insurance Program to qualify. 5. Business owners can buy $50,000 building coverage and $50,000 contents coverage for just $550.00 a year. 6. You can decide how much flood insurance coverage to purchase on your home, business property, and personal property.

As of March 31^st, 2009 FEMA re-evaluated their flood elevation certificates for most of Ohio including Jackson, Wellston, and Oak Hill. Some properties that were in a high risk flood zone may now be in a low to moderate flood zone allowing for a reduction in your flood insurance premium. The new flood elevation certificates will not be used by FEMA to automatically adjust the flood zone certificates to your flood insurance policy. The only way to find out if your premiums can be lowered or if your property is currently out of a high risk flood zone is to speak to a licensed insurance agent that is familiar with the Flood Insurance Program.

You might be tempted to take a big chance and go without this valuable coverage. When you consider the cost of this coverage could be less than $200.00 annually, you will be doubly disappointed if you have an uninsured loss. All you have to do is bring your current flood insurance policy into my insurance agency or fax it to 740-286-5032, or email a copy to Carlisleagency@hotmail.com and I would be glad to re-evaluate your flood insurance policy free of charge for any one in Jackson County. If you would like a new flood insurance quote for a home or business please call the Carlisle Insurance Agency at 740-286-5031 and ask for Michael Carlisle. We represent Auto-Owners Insurance Company the largest flood insurance provider in the country with 94 years of experience.                 

Michael Carlisle, Insurance Agent