Flood Insurance In Michigan
A Flooding event is not just common in America but also the most expensive disaster to deal with. An inch of water level is enough to cost insurance companies, homeowners, and government billions every year. If your home or commercial property is your largest investment, you could be risking financial ruin without enough flood insurance.
Flood insurance basics
Whether you’re from Michigan, Ohio, Pennsylvania, South Carolina, Indiana, or Florida, you are at risk of getting hit by a flooding event. That’s why Partners Insurance Agency LLC advises all citizens to buy flood insurance based on their level of risk. If you live in a high-risk flood area, prioritize buying enough flood insurance because home insurance doesn’t cover flood damage. Note that flood insurance takes 30 days to mature, so buying as early as possible is recommended.
What does flood insurance cover?
Flood insurance is a type of property insurance that protects your home and its contents if floods damage them. The policy is not mandatory but may be required by mortgage lenders if the home you bought is located in a high-risk flood area. Flood insurance protects the physical structure of your home, the electrical systems, foundation, and plumbing. It also pays for repairs for damaged furniture, kitchen cabinets, and anything else damaged by floods. Your personal belongings are also covered up to specific limits like appliances, electronics, clothes, and food items.
How much flood insurance do you need?
The amount of flood insurance to buy heavily depends on your geographical location. If you live in a high-risk flood area, you need more insurance than people in low-risk flood areas. However, having your property marked under a low-risk flood area doesn’t mean floods cannot affect your home. It would be best if you bought insurance according to the value of your possessions and home value.
Good news. Flood insurance is available in all 50 states, including Michigan, Ohio, Pennsylvania, South Carolina, Indiana, and Florida. For more information, contact Partners Insurance Agency LLC today.
