April showers bring May flowers, and, unfortunately, usually a great deal of basement flooding. And while your standard home insurance does not cover flood damage, it should be a part of your insurance portfolio. The Massachusetts Division of Insurance wants you to be aware of the following additional facts regarding flood insurance:
• You don’t have to live near water to be flooded. Approximately 25 percent of all flood insurance claims come from “low-risk” areas. Floods are commonly caused by storms, melting snow, dam or levee failure or water backup due to overloaded drainage systems.
• Flood insurance is affordable. The average policy costs around $300 annually for about $100,000 of coverage.
• Flood insurance claims are paid even when a federal disaster is not declared.
So as you can see, flood insurance is fairly inexpensive and perhaps most importantly, it will protect you from having to spend lots of money repairing your basement and/or first floor should a flood actually occur. If you’re considering flood insurance, give H&K a call at 800-890-5606– we are ready, willing and able to help you properly protect one of your most valuable assets – your home.
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