Flooding is the partial or complete overflow of water in two or more structures in a specific area. One of the buildings, of course, must be your home if you are planning to claim losses incurred by the situation. Flooding is a temporary situation that delivers devastating results.
Although there are many regions throughout the United States, Astoria, OR being one of them, susceptible to flooding, few homeowners take advantage of an indemnity plan that covers their possessions beforehand. The masses are often given a rude awakening when they wake up to find their valued goods underwater with no insurance policy to pay for the damages. Those who do have flood insurance sometimes do not understand all that such assurance entails.
What can you do with your coverage plan when tragedy strikes? Linda Dugan Insurance is here to help with four things that you can and cannot do with flood insurance.
1. You can purchase an indemnity plan even if you are a renter
It is a misconception that only homeowners are eligible for flood insurance. The National Flood Insurance Program (NFIP) as established by the federal government offers contents coverage that extends to renters as well.
2. You can purchase flood insurance even after a flood is predicted for the region
Assurance can be acquired anytime. You should, however, be advised that there is a 30-day waiting period that may interfere with your ability to claim certain goods should a storm come through the region and damage your property or valuables.
3. You cannot buy flood insurance today and be covered tomorrow
With the 30-day waiting period in place, you can only expect to purchase flood insurance today and be covered within the next month. You should also be advised that indemnity coverage does not apply for a loss in progress.
4. You cannot use traditional homeowners’ insurance as flood assurance
Homeowners’ insurance does not cover damages incurred by flooding. The only guaranteed source for flooding assurance is federal flood insurance as purchased through your insurance provider.
You do not want to be like others in Astoria, OR who may wake up tomorrow and find that all of their treasured possessions are lost due to flood damage for which they have no insurance policy to cover such devastation. Call Linda Dugan Insurance today to discuss the plan that fits your situation.