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Flooding is common, insurance covering the damage is not

Flooding is the most common and costly natural disaster in the United States, causing billions in economic losses each year. However, standard homeowners’ insurance doesn’t cover flood damage.

Because very few companies offer flood insurance, the U.S. government created the National Flood Insurance Program (NFIP) in 1968. Available to homeowners, renters and business owners, this insurance often is required to obtain a mortgage in areas at high risk of flooding, but according to the NFIP, nearly 25 percent of the program’s claims occur in moderate- to low-risk areas. This means it might be worth checking out policy options for peace of mind because flooding can also occur in inland areas and away from major rivers.

Professional Insurance Programs (PIP) says it’s important to be educated about the risks before a loss occurs to determine what insurance coverage is appropriate. Click here to learn more.

PIP has a longstanding relationship with the Society and partners with multiple carriers to provide members with the best possible home, auto and umbrella coverage. For more information, contact Craig Thompson at 414.755.4168.

Back to April 26, 2018 Medigram