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Why you need flood insurance no matter where you live!
Virtually all of us live in a flood zone. Floods can strike anyone…at any time…in any place! Even if you don’t
live near a lake or river, floods can result from damaged water mains,
ruptured tanks and towers, broken dams and levees, even runoff due to poor
drainage. And, of course, there’s always the risk of floods from
hurricanes, heavy rainstorms and melting snow.
How common is flooding? According to the Federal Insurance
Administration and the Federal Emergency Management Agency (FEMA)—which
together maintain the National Flood Insurance Program (NFIP):
- During a 30-year mortgage, the risk of property damage from flooding
is four times greater than that of fire damage.
- Well over half of all declared natural disasters involve floods.
- 25% of all flood claims are reported in areas not considered to have
a high risk of flooding.
Flood insurance isn’t expensive…loan payments are.
Standard homeowners policies do not cover flood damage. Federal
government disaster relief may be available, but it usually comes in the
form of a loan that you must repay with interest. And, if you are
uninsured and receive Federal disaster assistance, you may need to
purchase flood insurance to remain eligible for future relief.
Safeguard your home against flood loss.
Harleysville is among a select group of insurers that, through an
agreement with the Federal Insurance Administration, sells and services
flood insurance protection. Here’s how we can help you recover from
flood devastation:
- Your home—We provide coverage of up to $250,000 for structural
damage to your home, including its foundation, load bearing walls,
ceilings and utility systems. You can also receive payment for flood
damage cleanup in the flood’s aftermath.
- Contents (for homeowners and renters)—You’re
covered up to $100,000 for damage to appliances, clothing, furnishings
and other household effects.
- Increased cost of compliance—If FEMA guidelines call for
modifications to your property to help combat future flood loss, we
provide up to $20,000 coverage for extra costs you incur to bring your
home up to code.
- Excess flood coverage —In addition to providing standard flood
coverage through the National Flood Insurance Program, Harleysville
works with private reinsurers to provide up to $1 million in excess
flood insurance for customers with higher-valued properties to protect.
Your agent can provide the details.
Compare key differences between flood insurance
and federal disaster assistance:
- Disaster assistance—Requires a presidential declaration, which
happens with less than 50% of all floods.
- Flood Insurance—Reimburses you for covered losses even when a
disaster is not declared.
- Disaster assistance—You must repay any money you receive from
government flood loans, with interest.
- Flood insurance—Funds are provided directly to you with no need to
repay!
- Disaster assistance—A $50,000 disaster loan averages about $311
per month—
or $3,732 per year—to repay.
- Flood insurance—A $250,000 flood policy typically costs just $350
a year.
Your independent Harleysville insurance agent can answer any questions
you may have about your community’s participation in the NFIP and
provide you with flood insurance protection. If you have a home-based
business, your agent can also provide any special coverage you may need to
insure your business property against flood loss. Contact an agent in your area. Or, get in
touch with our office nearest you.
The Harleysville Insurance Companies are among a select group of
insurers that, through an agreement with the Federal Insurance
Administration, sell and service federal flood insurance policies.
Note: These coverages are not available in all states. In the event
there are discrepancies between this information and your policy, the terms of your policy
will govern. Consult your independent insurance agent for more information.
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