Flood Insurance, AAA asked the question: Are You Covered?

Your family may think that if you’re not living near the ocean, you have no flood risk. AAA, however, wants to remind families across the US that floods can and do occur in all 50 states.

Flooding is not typically covered by homeowners insurance, so it is important for families to evaluate their flood risk and consider flood insurance. Learn more from AAA on KCSG:

It’s important to understand what is and is not covered by your insurance policy. In most cases, additional coverage is needed to protect your property …

Read the source article at KCSG Television


Insurance blind spots: 5 coverage gaps that could cost you

In most states, auto insurance is required. If you own a home and have a mortgage to pay off, you’re likely required to have homeowners insurance. You may think these coverages are enough to manage your risk, however, there are some areas that aren’t covered by more common insurance products.

These gaps could leave you and your family vulnerable to large expenses. The Herald-Whig examines 5 common coverage gaps that could cost your family a lot of money:

Yet only 12 percent of homeowners nationwide carry flood coverage , an Insurance Information Institute poll found. Homeowners insurance doesn’t …

Read the source article at Herald


Flood Cleanup: Be sure policies cover water damage

Hurricane season is ending, but winter is coming – do you know if you have coverage for different types of flooding? You may want to talk to your insurance agent to understand what is covered under your homeowners insurance and flood insurance policies, as well as ares where you may not have enough coverage.

This article outlines some great tips for ensuring your’e got coverage, and from it you can find pointed questions to ask your agent to help best protect your family from expensive flooding damage. A rider could be a huge financial help should your home face flooding from a backed up drain.

Learn more in this story featured in the Des Moines Register:

A homeowner’s insurance policy may not cover flood damages. … in most cases, water damage is not covered by traditional homeowners’ policies.

Read the source article at The Des Moines Register


Floodplain changes mean savings, but officials urge caution in ditching insurance

Should your insurance plan change if the flood plain changes?

This question is much more easily answered if you weren’t in a high risk zone and suddenly are – you’re then required to purchase flood insurance for your home. But what if it goes the other way around and suddenly you’re not at so much risk as before?

It can be tempting to drop your family’s flood insurance coverage if you’re not longer required to carry it. Short-term, you’d save a fair amount of money. But are you still at risk? 

Your family should consider what’s at stake if you do decide to drop coverage and whether you’d be able to absorb the risk. Speaking with an agent can help clear up issues!

“I’ve had to buy flood insurance for eight years,” Lukens said. … from FEMA that its work would result in changes to the flood insurance risk maps, …

Read the source article at Argus Leader,


Live in a Flood Zone? Make Sure You Have This

Flooding and insurance can be tricky. Some policies will cover flood damage, others won’t. Some coverage you can purchase any time you need it, some require a waiting period before the policy can go into effect.

If your area is susceptible to flooding, you’ll want to know the ins and outs of your policies to ensure you have adequate protection in the event of a flood. Read on on About to learn about some common nuances to flood coverage:

It may surprise you; car insurance does cover flood damage to cars, as long as you have selected the right coverage on your auto insurance policy. A flood can easily total out a car and the only way to get your insurance company to pay for the repairs or your total loss is to carry comprehensive coverage on your policy. Flood insurance can be crucial if you live in high risk flood zone.

Read the source article at Car Insurance Coverage and Loan Terms

Public Insurance Adjuster, Dick Tutwiler, Offers Insurance Claim Advice to West Virginia Flood …

In this helpful article, Dick Tutwiler offers helpful insight into the insurance claims process for losses related to water, namely flooding and water loss. These are two separate issues that oftentimes rely on different coverages, so knowing which one you are facing will allow you to take the right corrective action and lead to a smoother claims process.

Though Mr. Tutwiler speaks specifically to his fellow West Virginians, these tips are useful for homeowners and families all through the US.

Read more on Benzinga:

Native West Virginian and Public Insurance Adjuster Charles R. “Dick” Tutwiler offers tips on how fellow West Virginians can navigate flood insurance …

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Hurricane insurance: 13 things to know before the wind blows

Hurricane season is arriving and can cause serious damage to your property. Make sure you’re covered by knowing the ins and outs of the coverage you have under your homeowners insurance and how that relates to the risks you may face during hurricane season:

Flood insurance is part of my homeowners policy, right? No, not typically. You may be required to have a flood policy if you are in a high-risk flood area …

Read the source article at The News

9 Kinds of Damage Home Insurance Won’t Cover

Your family bought home insurance to help protect your home. Do you know what your policy does and doesn’t include? Knowing what’s excluded from your policy can help you make informed decisions about your home’s vulnerabilities. Check out this article for common exclusions and where you can find supplementary coverage.

Home insurance is a must-have for homeowners who want to protect their investment, and it’s usually required if you have a mortgage. But having home insurance doesn’t mean you’re covered against all problems that can damage your house or drain your savings.

What is and isn’t covered depends on your policy type. An HO-2 policy, for instance, is a “named-peril” plan that protects you against 16 specific issues, while an HO-3 or HO-5 policy will cover more problems but at a higher cost.

Read the source article at Compare Best Credit Card Offers