Flood Insurance
Floods cause around $8 billion in damages every year in the United States. Unfortunately, trends are getting worse. Flood insurance claims are becoming more common. Additionally, more and more areas are facing catastrophic inland flooding, even areas not known for flooding. As a result, many homeowners and businessowners are vulnerable to floods without even realizing. Your standard homeowners insurance policy or commercial insurance policy do not cover flooding. You need separate flood insurance policies for that, and the team at Arcadia Insurance has got you covered.
Flood Insurance: Michigan and Minnesota
In the past few years, we have seen massive flooding events in Michigan and Minnesota. Homeowners insurance does not cover flood damage. Business insurance does not cover flood damage. That means that in the wake of these massive flooding events, countless individuals were left with flood damage and no insurance to cover it. Entire homes have been destroyed, and many are left hoping that FEMA can help. Sadly, too few qualify for FEMA assistance. Michigan flood insurance and Minnesota flood insurance is something you need if you want to live in the Great Lakes region.
Basics of Flood Insurance
Again, your standard homeowners policy does not cover flooding. It covers water damage from rain, but only if it enters through the roof, a crack, or window. Burst pipes are also covered. However, storm surges, flooded rivers, or any other ground-level water damage is not covered.
Traditionally, Michigan and Minnesota residents rely on flood zone maps to calculate your risk of flooding. This is often required if you have a mortgage. However, 20% of all flood damage claims last year occurred in low-risk areas. Remember that your Michigan homeowners insurance will not cover flooding. The same is true for your Minnesota homeowners insurance. Flood insurance is the only way to make sure you can recover after a flood claim.
Arcadia Insurance Has You Covered for Michigan and Minnesota Flood Insurance
If you want more details on what’s covered by your homeowners policy and why flood insurance might still be necessary, contact us. You can trust that the professionals at Arcadia Insurance will make sure you get the flood insurance coverage you need. Business owners and homeowners have insurance so that you can be made whole after a loss. But, if your loss is caused by flood damage and you do not have flood insurance, then you can’t be made whole. Don’t let this happen to you. Get the coverage you need at a rate you can afford. Contact us today to make sure Arcadia Insurance has got you covered.
