Many homeowners fail to realize that flooding is not a part of their normal homeowners’ insurance coverage…
Cleveland OH (PRWEB) January 06, 2012
Water restoration leader RestorationLocal.com is advising homeowners to look into purchasing flood insurance to minimize the high cost of water damage to their properties. 2011 was a year of record flooding in many parts of the country, and with the winter of 2012 predicted to be an intense one, the threat of flooding is evident.
Many homeowners fail to realize that flooding is not a part of their normal homeowners’ insurance coverage, and as a result end up surprised when they try to file a claim following damage caused by a flash flood or a major storm.
Obtaining flood insurance is possible. Some companies offer flood coverage for an additional premium, and in 1968, the federal government established the National Flood Insurance Program (NFIP) designed to assist property owners by protecting them financially against flood damage.
The NFIP provides flood coverage to homeowners, businesses, and rental properties, provided that their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements designed to reduce the risk of flooding.
The NFIP uses flooding history in a given area to determine that areas projected flood risk. With critical determinations made by evaluating a given community’s rainfall and river flow data, topography, wind velocity, tidal surge (if applicable) flood control measures, building development, and community maps.
RestorationLocal.com encourages homeowners to look into the NFIP as a resource to protect against flooding. Federal disaster relief is available following flood events, however they usually come in the form of low interest loans, are only available if the President formally declares a disaster, and must be repaid along with any existing mortgage. NFIP coverage eliminates these scenarios.
Homeowners interested in NFIP coverage should contact their local homeowners’ insurance provider and see if NFIP coverage applies to their community and fill out a Flood Risk Profile. Some insurance companies also offer Excess Flood Protection, which provides additional coverage above and beyond what the NFIP provides.
RestorationLocal.com is a nationwide water damage repair company. They are based in Cleveland OH.
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