Why you need Flood Insurance

With the environmental occurrences of riverine flooding, disproportionate rainfall, excessive snowmelt, and extreme runoffs being common in the state of California, getting a Flood Insurance in CA has almost become mandatory for several homeowners who feel the wrath of these natural occurrences on a daily basis. Flood insurance falls under the broader category of property insurance and it covers a house for losses caused by continuous water damage, particularly associated with flooding.

Flood Insurance in CA

Flood Insurance versus Home Insurance in CA

Normal homeowners’ insurance does not cover flood damage of any kind. It will cover some losses caused due to excessive rainfall, but if a homeowner faces a situation where his or her home is full of water because of increasing bodies of lakes, streams, watercourses, and seas, a regular home insurance package will not cover them.

As opposed to availing California Homeowners’ Insurance, which can be accessed via several agencies, flood insurance is usually offered via the federally structured program called the National Flood Insurance Program. Primarily it consists of two policies –

  • A policy that will cover the overall building property (packages can be worth up to $250,000)
  • A policy that covers only personal properties (packages can be worth up to $100,000)

Homeowners are encouraged to get a flood insurance quote on both the policies and find out for themselves the one that suits them better. They can also take the help of an expert insurance agency to help them out in the process.

Coverage Offered through Flood Insurance

A basic flood insurance coverage consists of –

  • The house and its basic foundation
  • Electrical and drainage system
  • HVAC equipment (for instance air conditioning, heaters, and radiators)
  • Kitchen appliances (items covered under this includes – refrigerators, stoves, and built-in systems like dishwashers)
  • Carpeting over an uncompleted floor (must be permanently installed)
  • Permanent structures such as wallboards, paneling, bookshelves, and cupboards
  • Drapes
  • Separate garages (restricted to 10% of the homeowner’s home policy)
  • Wreckage removal

The National Flood Insurance Program policy that covers the homeowners’ personal property (clothes, gadgets, etc.) includes claims that are compensated based on the item’s market cash value and not what the owner had paid for in the first place.

The advantages of having Flood Insurance in CA

Apart from the mental satisfaction flood insurance packages bring to the homeowner who can feel secure about his or her property, there are also several monetary advantages of getting flood insurance –

  • A policy package of Flood Insurance in CA will pay off even in a situation where the government has actually declared a disaster. Proof of the damage is enough.
  • Flood Insurance compensates property holders for all covered damages – around $250,000 for the building and its foundation and up to $100,000 for the contents of the building.
  • Flood Insurance Rates are designed to genuinely help those who need it in case there is a disaster.
  • For business establishments, Flood Insurance packages pay up to $500,000 for the building and its foundation and up to $500,000 for the contents of the building.
  • For tenants, Flood Insurance packages pay up to $100,000 for private possessions.

The Flood Insurance Claim Process

In order to claim against a flood insurance policy, you need to prepare a written “Notice of Loss” and submit the same to the NFIP authorities as soon as you can. Once that is done, the Proof of Loss form needs to be completely filled, signed and submitted within a period of 60 days. If you miss the 60 days period, there are high chances that the claim will be rejected. However, under special circumstances, the deadline might be extended by the Federal Emergency Management Agency.

It is advisable not to wait for an imminent hurricane or disaster to buy federal flood insurance. There is generally a thirty day wait period. Doing appropriate homework before approaching to acquire a policy is advisable.

Devoted to delivering the best packages for Flood Insurance in CA, Promax Insurance Agency has developed into an expert assistant for all of its customers by bringing hand-picked policies at the most economical rates. The agency is currently operating in the following cities and counties –  Aliso Viejo, Anaheim, Brea, Buena Park, Cerritos, Chino, Costa Mesa, Corona, Cypress, Dana Point, Fountain Valley, Fullerton, Fontana, Garden Grove, Huntington Beach, Irvine, La Habra, La Palma, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, Long Beach, Los Alamitos, Mission Viejo, Newport Beach, Orange, Placentia, Pomona, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster, Yorba Linda, Los Angeles, Riverside, Orange County, San Bernardino, San Diego, Sacramento, Sunnyvale, Santa Barbara, Santa Clara, San Luis Obispo, Fresno, Monterey, Whittier, Norwalk and Southern California.