What You Need to Know About Georgia Flood Insurance

flood

Today’s Guest Blog Courtesy of Richard Wilson with Allstate

Did you know there is a 26% chance of having to experience flood damage to your home during the course of your 30year mortgage. If you are not in a high-risk flood zone, you still may experience flooding.

Fact:  25% of all flood claims are from people who live outside of a flood zone.

What would it cost you to rebuild your home or replace all of your personal possessions. Losses due to flooding will have an effect on your financial well-being and that is where your current home insurance company and the National Flood Insurance Program can help give you peace of mind.

Where do I start?

Always check your home insurance policy. Most homeowners’ insurance policies do not cover flood damage. You may need a separate flood insurance to protect against flooding. Flood policies, administered by your insurance company and provided by the federal government, are available in communities that have joined the National Flood Insurance Program. Purchased separately from your home insurance policy, a flood insurance policy can complete insurance protection for your property.

The National Flood Insurance Program has set up a Preferred Risk Policy which is designed for homeowners with low to moderate flood risk and for those who acknowledge the need for flood coverage, and want to protect their home and personal belongings in the event of a flood.
There are certain conditions to qualify for this type if policy:

  1. You own a one to four family dwelling.
  2. You are located in a low to moderate flood hazard area.
  3. There has been no more than one paid flood claim over $1000 since the date of construction.

If you do not qualify for a Preferred Risk Policy, you may still be eligible under the Standard Flood Insurance Policy. To purchase or for more information about Georgia flood insurance, give me a call.

Richard Wilson

rwinsurance@gmail.com or 404.388.1471

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