Flood risks is real and it is high. In fact, with things like climate change, flood insurance is more important than ever before. Storms are likely to become more frequent and more severe. Living without flood insurance is a huge gamble, even in areas that are not considered high risk. What was not high risk a few years ago may well be high risk now.
SBC insurance can hello you with flood insurance in Los Altos, Menlo Park, Palo Alto, Stanford or Sunnyvale. The fact that you have home insurance does not mean that you have flood insurance. Due to the high risk and associated devastation, most insurance companies shy away from flood insurance. That means you standard homeowners policy does not cover you for the kind of flood damage caused by heavy rains, melting snow and severe storms.
There are options when it comes to flood insurance. These include Federal and state sponsored programs. For example, the NFIP (National Flood Insurance Program) provides affordable insurance program to communities that participate in flood management programs.
There may well be other options when it comes to flood insurance and you should discuss these with your insurance advisor.
Bear in mind, it is not only your home that is at risk when it comes to floods. A flood can wash away your car, sink your boat, destroy your business and more. You also need to consider that floods might not be the only disaster excluded from your insurance.
If your normal insurance does not include flood insurance you need to ask yourself:
- What about an earthquake?
- What about windstorm damage?
- What about sinkholes?
- What about a burst dam?
Insurance has exclusions and ceilings. You need to know these things. What is excluded? What is my maximum coverage? I am covered for replacement value of my stuff?
Better to talk to your insurance advisor so you can be sure you won’t end up with the short end of the stick.