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What Makes A Flood?
avalon_agency wrote in insurance_chat
Everybody is thinking about Flood Insurance these days, even here in Bedford, New York and the surrounding areas. Watching all the damage and destruction around the country play out on our televisions and monitors, we can't help but wonder what we would do if we were faced with the same situation.

Flood Insurance is certainly available to anyone, but it is important to understand what a "flood" really is, or what it is considered to be by the flood plan, which subsidizes all flood insurance sold in the US. Here is the definition they use:

"Flood" is defined in the Standard Flood Insurance Policy (SFIP), in part, as:

A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from overflow of inland or tidal waters, from unusual and rapid accumulation or runoff of surface waters from any source, or from mudflow.

So, water rising from the ground from a heavy rainstorm is not a flood, and would not be covered under a flood policy. Actually, rising water is not covered under a homeowner's policy either.

But you can buy what is called "Water Backup" coverage. For a very low premium you can usually add this coverage to your home policy and you can cover water damage caused if drains or sewers back water up into your home, or if your sump pump fails and the same happens.

Now Water Backup coverage won't cover a flood situation, and vice versa, but at least there are these avenues available to cover some forms of water damage to your home.

We've recently sent a mailing to all of our insureds offering to add this coverage to their policies. We recommend it. And we also will quote flood coverage for anyone who is interested. Sometimes, just a small amount of money can offer a huge amount of peace of mind.

Avalon Agency


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