Due to Connecticut’s location on the East Coast, resident homeowners face the possibility of floods damaging their property. Tropical storms can cause excessive rain during the summer, while snowmelt and ice debris pose danger during the winter months. As a result, it is essential to prepare your home for flooding, including purchasing and maintaining flood insurance.
The Importance of Flood Insurance
While homeowners’ insurance may pay for damage from wind, hail, and other natural elements, it usually excludes flood damage, even if the flood was part of a covered storm. As a result, homeowners need special policies in addition to basic home coverage.
Without proper insurance, homeowners may have to pay for flood-related damage themselves. This can get costly, making it difficult for residents to recover after a natural disaster. According to FEMA, just one inch of floodwater can cause roughly $25,000 of damage to your home. In addition to replacing and repairing water-damaged structures, homeowners must remove debris from the premises and have their property treated for mold.
Where Do You Obtain Flood Insurance?
The Federal Government offers flood insurance through the National Flood Insurance Program (NFIP). While the NFIP provides coverage that is both generally affordable and widely available, it has limitations:
- Doesn’t cover additional living expenses
- Won’t pay for damage from sinkholes, landslides, and other earth movement
- Pays only actual cash value for secondary homes
- Requires excess flood policy for greater than $250,000 in coverage
You may also consider a flood insurance policy through a private insurance company. One of our seasoned insurance agents can help identify a policy that best fits your needs.
How Flood Insurance Differs from Personal Property Insurance
Personal insurance pays for belongings damaged during fires, storms, vandalism, and theft. Depending on the policy, an insurer may pay the actual cash value (the item’s monetary worth at the time of the damage) or the replacement value (the cost of buying a new item of similar quality). There’s typically a cap on the amount an insurer will pay, so you may need additional policies for expensive belongings such as jewelry, electronics, and art.
Private flood insurance can pay for home repairs and replace affected belongings following flood damage. Depending on your policy, the insurance company may also cover mildew or mold cleanup so long as you can prove you took precautions against such growths.
Home Preparation Strategies for Flooding
Preparation can reduce the risk of damage to your property. Flood-proofing can keep water out, decreasing repair costs:
- Use flood-resistant materials
- Seal or raise your foundation
- Improve drainage around your home’s exterior
- Elevate utilities
Your safety is of the utmost importance during a flood, so prepare an emergency plan. Ensure everyone understands the plan, and designate individuals to take charge of those who can’t care for themselves, such as pets, young children and elderly or disabled family members. Prepare an emergency kit in advance and plan evacuation routes. Store valuables and documents in a secure, elevated location that you can easily access on short notice.
Empowering Homeowners Through Flood Insurance
Being proactive can keep your family and belongings safe during a flood. The proper insurance policies can help you recover in the aftermath, allowing you to return to normal as soon as possible. If you own a home in Connecticut, look into flood insurance in addition to your general homeowners’ coverage. Contact a Brooks, Todd & McNeill agent today!
About Brooks, Todd & McNeil
Since 1839, the independent agents at Brooks, Todd & McNeil have been pleased to offer our community the most comprehensive policy options from a variety of providers. Our licensed claims adjusters are ready to put their 75 years of combined experience to work on your claims. To learn more about our products and services, contact us today at (800) 448-4567.