What is flood insurance and do I need it?

According to FEMA floods are the most common natural disasters in the United States and the most costly. Major flooding has occurred in all 50 states so if you are thinking you are safe, you may not be. Record flooding is occurring on a more regular basis and it may be time to start thinking about how a flood could affect you. If you live in the Minneapolis, MN area, the experienced staff at Calhoun Risk Management can help you to understand the coverage you need. 

Flooding can cause an extreme amount of damage to your home. You may be thinking that your home, condo or renters insurance provides coverage for flooding, you are wrong. Floods are not covered on any of these policies. Imagine the amount of damage that several feet of water pouring into your home can cause. Then ask yourself if you are willing to take that risk of not having insurance coverage. 

Flood insurance policies are issued by the federal government through the National Flood Insurance Program. While the program is federal, you can’t buy the policy from FEMA, you purchase it through your local insurance agent. It covers much of the damage that your home could receive from a flood. It doesn’t, however, cover everything and it is important that you read your policy carefully so that you understand what you can do to minimize your loss. 

Minneapolis, MN has some really great lakes and rivers. They offer the opportunity to enjoy the great outdoors but when they are running over their banks, they are a danger to you, your home and your possessions. Give the experienced agents at  Calhoun Risk Management a call at  952-746-2416 with any questions you may have. They will give you a no-obligation quote and some peace of mind.