Things you need to know about Flood Insurance

Rainfall is a good thing since it keeps the land beautiful, nourished, and healthy which ensures the survival of humanity, plants, and animals. However, like all other good things in life, moderation is always required. Unfortunately, you can’t control mother-nature hence there is no way you can stop rainfall and subsequent flooding.

Recently, there has been numerous storms, hurricanes and excessive rainfall which is the main reason you should re-examine your flood insurance policy. Notably, flooding can be severe, leading to irreparable damages to homes and property. According to McCormick Insurance Inc., Pembroke Pines, FL, these are four things you need to know about flood insurance.

1. Don’t postpone until the last minute before buying flood insurance
Like other insurance policies, flood insurance has a waiting period before you start ripping its benefits. In most instances, the waiting period is 30 days hence the policy should be bought in advance of the storm or hurricane seasons.

2. Don’t over-rely on the homeowner’s policy
The standard homeowner’s policy might cover for damages caused by a busted pipe, but it won’t cover for damages caused by excessive rains or hurricanes. As such, it is imperative to consider a flood insurance policy.

3. Even if you are a tenant, you still need the policy
If there is no requirement for the landlord to have a flood insurance policy, they will most likely not invest in the policy. As such, any water damage to your belongings will not be covered.

4. You should protect your business using this policy
Most offices are stocked with expensive furniture and files, and yours might not be an exception. In case there are floods around your office you can incur a huge financial liability due to water damage. However, with a flood insurance policy, all your liability claims will be covered.

While hurricanes and storms are isolated issues, McCormick Insurance Inc., Pembroke Pines, FL advises you to purchase a flood insurance policy to ensure that you are always prepared.