Monday, August 29, 2011

Flood Insurance

Where can I purchase flood insurance? Flood insurance is purchased through a federal program. You can insure your home for up to $250,000 and your personal property for $100,000. The policy would only cover your home or other buildings such things as the driveway a fence or even your patio will not be covered.

If your home is located on a beach or close to a shoreline unfortunately you will not be able to purchase flood insurance under the federal program. You would have to look in the private sector. The reason for this is the high risk of building or buying in a coastal area.

When you purchase flood insurance there will be a 30 day delay before the policy will go into effect. This is to keep people from buying the insurance only when a storm or natural disaster seems to be imminent.

Do not limit your home to just being covered by flood insurance you should also have it covered by conventional homeowners insurance that will protect you against fire, theft and accidents. So contacted your nearest agent in your area that handles flood insurance they can give you all the necessary information you will need to obtain a policy.

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