This policy covers you against the loss of property through flooding. In Illinois, insurance companies will assess the risk affecting a property based on topographical maps that denote lowlands, flood plains, and floodways. It covers physical losses from floods or erosion caused by waves and water currents. This policy also covers personal belongings such as clothing and personal effects in the house that could have been destroyed by floods. Our MYsurance agents will advise you on what various insurance companies can cover.
Flood insurance covers the contents of the home and its structure. Each of these has its premiums and limits of payments. The structure of the home includes the foundation, electrical plumbing, permanently installed carpeting, or water heaters.
Contents of the house include clothing, furniture, electronics, or dishwashers. Our MYsurance agents will guide you in identifying the items that you own that will be covered by the insurance policy.
The weather is unpredictable. It is possible to lose properties to floods that you invested in for years, in a short time. For homes and businesses in flood risk areas, you must have a flood insurance policy to avoid financial losses. If the property is under a mortgage, then the flood insurance policy is a mandatory requirement in these areas.
Institutions such as the Federal Emergency Management System, may classify certain areas as flood zones and make it a mandatory requirement to have a flood insurance policy. In Illinois, these areas have been well identified on maps.
There are certain risks not covered by a flood insurance policy. You must discuss these clauses with our MYsurance agents to pick a policy that suits you best. These clauses may differ from one insurance company to the other. This may include flooding as a result of broken pipes.
Visit our offices today or give us a call for more information on this policy.
