Flood Insurance: Storm Claims Q&A

June 21, 2023||inPersonal Insurance|flood insurance, homeowners insurance, personal insurance

Many people underestimate the potential for flooding. When a heavy rain storm or hurricane hits, floods can cause severe damage. Rising and pooling water that leads to flooding doesn’t only happen near rivers, lakes, and wetlands; it can happen even in low-risk areas due to clogged storm drains, high volumes of rain, and other causes.

Let’s discuss why flood insurance could be a good investment for you.

Flood Insurance: Storm Claims Q&A
Click here to submit an inquiry to Murphy Insurance or call us at 800 222 8711

The lack of frequency of flooding can make it easier for some to rationalize why they might not need flood protection since it’s not that common. However, it doesn’t mean that it can’t happen, which is why you need protection.

Did you know that:

  • Home owners are 5 times more likely to sustain a loss from a flood than a fire?
  • 25% of all flood insurance claims are filed in low- to moderate-risk areas?
Here are some common questions that we get about flood insurance:
Q. Does my homeowners, condo, or renters policy cover floods?
A. No. Flood insurance is specifically excluded from these policies. You must purchase separate flood insurance. Flood insurance coverage is limited. Often, the amount you can purchase is less than the amount you have purchased under your home insurance. However, in a flood situation, some coverage is better than no coverage.
Q. What does flood insurance cover?
A. It covers physical damage to your property and possessions. However, the coverage is more limited than the protection provided under your homeowners policy, so it’s essential to understand the differences. Read the National Flood Insurance Program Summary of Coverage for more information.
Q. How much does flood insurance cost?
A. The cost of coverage is controlled by the National Flood Insurance Program (NFIP) implemented by FEMA. The premium cost will vary depending on your property location and structure. It also depends on the flood zone based on federal flood maps and several other factors. If you live in a low-to-moderate risk area, you can receive preferred rates. Your premium will also be lower if you choose a higher deductible. Rates are set by the NFIP and are the same regardless of where you purchase insurance.
For additional details, review our flood insurance page.
The NFIP website, www.floodsmart.gov, also provides a wealth of information. If you don’t have flood insurance but believe you have potential flood risks at your property, even if low, it’s worth taking the time to learn more and get a flood insurance quote. You may be surprised at how affordable it can be.

Read Other Blog Posts

Toast

Holiday party etiquette & serving alcohol

Read more
What is Your Jewelry Worth? When Should You Update Appraisals?

What is Your Jewelry Worth? When Should You Update Appraisals?

Valentine’s Day approaches, often marked by the exchange of jewelry as a symbol of love. While insuring every piece may not be practical, it's advisable to consider insurance for expensive items, particularly those worn frequently.
Read more
Car on road

Gap Insurance

Car owners often assume that if their car is totaled, it will be replaced at the amount they paid, or at least the amount they owe. However, that’s not always the case — learn why and what you can do to protect yourself.
Read more
Car outside of garage

Vehicle Storage Tips During Winter

As winter approaches, it’s time to think about safely storing your recreational vehicle to avoid damage from the harsh weather and roads. Utilize the following guidance to properly prepare and store your vehicle this winter.
Read more
Car stopped for pedestrian

Quiet Vehicles and Pedestrian Safety

Electric cars continue to make headlines, but anyone who’s had such a vehicle sneak up behind them while on foot knows how quiet they are. These vehicles, along with hybrid cars, run much more quietly than gas-powered cars—posing a serious risk to unaware pedestrians.
Read more
Wood-burning Stove

Wood-burning Stove Safety

The top source of fires in American homes comes from fuel-burning appliances—such as a wood-burning stove. Consider the following guidance to ensure safe operation of your stove—keeping you, your family and your home protected against the risk of a fire.
Read more
Outside lightbulbs

How to Reduce Winter Utility Bills

When outside temperatures begin to drop, one of the most costly consequences is the increased energy it takes to maintain a comfortable home temperature. With this in mind, consider these tips to reduce your monthly utility bills in the winter.
Read more
Car in snow

Tips for Driving in Extreme Weather

Driving in adverse weather conditions can be downright nerve-wracking. It can also be very dangerous. Being aware of how to modify your driving during heavy rain, snow and fog can help you stay calm and safe during your journey. Consider the following tips when driving in extreme weather.
Read more
Ice Dams

Ice Dams: A Winter Challenge for Homeowners

Read our blog post, Ice Dams: A Winter Challenge for Homeowners for some great tips on preventing ice dams and what to do in the case of ice dams on your roof. Ice dams are more than just an inconvenience—they can cause significant damage to your home. While prevention is the best strategy, ice dams can still form despite your efforts, so having a response plan is crucial. Ice dams occur when attic air warms to above freezing, causing snow on the roof to melt. As the water runs down the roof and reaches the colder edges, it refreezes, creating an ice dam. These dams block water from draining off the roof, causing it to pool and seep under shingles, into the attic, or along exterior walls.
Read more

Visit Our Personal Insurance Page

Personal Insurance

Life is an ever-changing journey, and it deserves a thoughtful, comprehensive plan to protect the things and people that matter most. Our dedicated team at Murphy Insurance is here to assist you in creating that plan. With a wide range of product options at our disposal, we ensure that your plan is tailored precisely to your requirements. Our commitment to providing clear, intelligent guidance to help you achieve true peace of mind. Learn more about our personal insurance portfolio.