Rain or shine, we’ve got you covered.
Flooding is one of the most common natural disasters in the United States.
Every year millions of Americans are devastated by various forms of flooding as a result of hurricanes, heavy precipitation and even snowmelt.
Flood-related damages are no joke. Did you know that just one inch of water in a home can cost more than $25,000 in damages? That’s a lot of dough. Flood insurance can be the difference between recovery and financial disaster.
We know you want to protect the life you’ve built. That’s why we recommend flood insurance for all our clients, even in low-to-moderate risk areas.
What to Cover
The two types of coverage that flood insurance provides are building coverage and contents coverage. Let’s dive into what this means.
Building/Structural Coverage – This means the actual structure and foundation of your home is covered. This also includes electrical and plumbing systems, appliances, carpet, and more.
Personal Property Coverage – Good news- your stuff is covered too! Personal belongings like clothes, furniture, curtains, artwork, and other important possessions are protected.
Private Flood Insurance vs. FEMA
Like most types of insurance, there are options. Traditionally, flood insurance is written and managed by the National Flood Insurance Program (NFIP), which is managed by Federal Emergency Management Agency (FEMA). However, private flood insurance companies have since been stepping up to the plate and offering coverages outside the NFIP’s limits.
The NFIP will cover the structure and personal property (if purchased) of your home, while private flood insurance allows the option to tailor your flood policy to cover more than just your home and furniture. There are pros to each option, but it’s worth keeping in mind that there are some coverages not provided by the NFIP, including:
- Replacement cost for your contents
- Temporary living expense
- Coverage for basement contents
- Pool repair/refill
- Detached structures and more
Not sure which policy to go with? Let Prosper keep your flood damage worries at bay. Our team is here to help you decide which coverage is the best for you and your lifestyle so you can sit back and relax knowing your covered.
Let’s Talk About Myths
There are a few misconceptions out there about flood insurance. Our flood insurance gurus are here to debunk some of those myths.
“I don’t live in a high-risk flood zone; therefore, I don’t need flood insurance.”
While flood insurance is not required, flooding can happen to anyone in any zone. In fact, 20% of all flood claims come from outside high-risk flood areas. Flood insurance can help you rest assured knowing you’re protected during those “when it rains, it pours” moments.
“My homeowners policy covers flood damage.”
Flood is almost never covered on any standard home insurance policy. It’s a separate policy through FEMA or a private flood market.
For most people, their home is their most important (and expensive) asset. You want to protect it at all costs. This need is where homeowners insurance comes into play. Your policy will typically cover a variety of things: Your house: By this we mean the actual structure of your home. In the event that your home is damaged from a covered loss, […]…Read More
A variety of factors are considered when your agent is pricing out your hom…Read More
There’s always risk of property damage. However, the wintertime brings a rather paradoxical type of risk. It’s cold on the outside and hot on the inside. This means your home is facing risk of fire and ice damages. You don’t want to be caught on the wr…Read More
Look who’s feeling good about their insurance!
“I am extremely pleased with my decision to switch both my car and condo insurance to Prosper. I now have better coverage and saved money too!”-
“Not only did my agent find the most amazing rates ever for us, she did so with class and amazing customer service.”
“I was pleasantly surprised at how quick and efficient it was to get a quote for home owners insurance.”
“Prosper made insurance less intimidating than I thought it would be as a first time homebuyer.”
“I wish I used these guys for my past home purchase.”