Flood Insurance

Many people learn too late that most homeowner’s policies exclude any coverage in the case of a flood. Flood insurance provides protection for destruction caused by floods. Although it may not seem like much, even a few inches of water can cause serious damage; resulting in thousands of dollars in repair and restoration costs. Flood insurance offers protection against losses that result from heavy and lengthy rain falls, storm surges, blocked storm drainage systems, etc.

Whether you own a single family home, or a two or three family house, condo, vacation rental or rental property, flood insurance policy from Childress Insurance Agency can offer you:

• Building coverage that pays for damage to your dwelling or building and items such as the furnace and water heater
• Contents coverage for your furniture, rugs, appliances, and clothing (subject to limitations in basement areas)
• Property protection that pays for sandbagging and other expenses for preventing flood damage
• Clean up reimbursement to cover costs of cleaning your home and removing debris after a flood

By federal law, a flood insurance policy doesn’t go into effect until 30 days after its purchase. However; if you purchase your flood insurance policy in connection with your mortgage closing, the policy will be effective at the time of closing.

Think you are not at risk? Consider this:

• Approximately 25% of flood insurance claims come from low risk areas that are not in a flood zone.
• Six out of ten presidentially declared disasters involve flooding.
• Federal disaster relief is available only if a federal disaster is declared, which occurs in less than half of all floods. The disaster relief is a very small amount and in the form of a loan. Flood insurance pays for your covered losses even if the disaster is not federally declared.