When most people think of a flood, they might think of events like Hurricane Katrina or Sandy. These were massive, headline-making storms that caused billions of dollars in damage. But, in reality, most floods are caused by far less catastrophic situations. For example, it only takes a few inches of standing water to cause tens of thousands of dollars in damage.
Mason-McBride's flood insurance has you covered. Did you know that every house in the entire country is in a FEMA flood zone? There are just some flood zones that are worse than others. In most situations, you will have a thirty-day waiting period when you buy flood insurance, so don't wait until it is too late!
Do You Need Flood Insurance in Michigan?
In short, yes, absolutely, 100%. Having flood insurance is imperative to make sure that your house is fully covered; we don't expect you to take our word for it, though; here are the top 3 reasons to purchase a flood insurance policy:
- In the United States, flooding is the most common natural disaster
- Most homeowners' policies do not cover damage caused by flooding
- Federal Disaster Assistance is minimal
How Does Flood Insurance Work?
Flood insurance covers damage caused by external factors such as heavy rains, snowstorms, overflowing storm drains, etc. Flood insurance works similarly to other insurance products: The insured pays a premium based on their property's flood risk. If flooding caused by an external event damages the insured property, they will receive damages and rebuilding assistance. Flood insurance is available to homeowners, business owners, and even renters.
Home Insurance Does Not Cover Flood Damage
Whether you live in Troy or any other part of Michigan, flood insurance must be purchased as a separate, stand-alone policy. It is not covered by Homeowners insurance.
Flood insurance policies also reimburse you for the work you and other family members did to sandbag your homes, move furniture, and remove debris. In addition, if you live in certain flood zones, your mortgage company may require that you purchase a Flood insurance policy. However, flood insurance is optional if you live outside a high-risk zone or no longer have a mortgage.
Considerations Before Buying Flood Insurance
Working with an Independent Agent means we always seek your best interests. We have the knowledge and expertise to get you the best policy that fits your needs. Listed below are some excellent flood insurance questions you should ask:
- What flood zone do I live in?
- What's precisely covered in my flood insurance policy?
- What should I do if I have to make a claim?
- How can I pay for my policy?
- Are there any additional expenses?
- How long does it take for my Flood insurance to go into effect? (30 days, so that you know.)
Flood Insurance for all Michigan Cities
We can provide you with a price comparison for any Michigan city, including, but not limited to:
- Sterling Heights
- Clinton Township
- Bloomfield Hills
- Auburn Hills
- Rochester Hills
How much Does Flood Insurance Cost?
A few factors determine flood insurance costs, including:
- You can expect a higher price if you live in a flood-prone area. However, if the flood zone has a low risk of flooding, the price will probably be lower.
- Type of Coverage: Flood insurance may cover personal belongings, buildings, or both. The more coverage you choose, the more expensive it will be.
Find out more about your coverage and price options by talking to an agent at Mason-McBride. Mason-McBride partners with carefully selected companies to provide quality coverage at an affordable price.
Flood Insurance Quotes
If you're interested, start a quote online or call our office.