How much flood insurance do I need?

Astoria is at high risk for riverine or tidal flooding, so community members should recognize the value of flood insurance. But how much flood insurance do you need? This article helps answer that question, but everyone’s needs are unique, so contact the team at Linda Dugan Insurance, serving Astoria, OR, for advice on the best flood insurance for your needs.

Flood Insurance Policy Needs in Oregon

Homeowner’s and renter’s policies do not cover damage from flooding waters entering from outside your home, so you need flood insurance to cover those potential damages. If you have a mortgage on your home or condo, your lender may require you to carry a minimum amount of flood insurance, but the minimum amount may not meet your needs. Instead, homeowners should have enough flood insurance to rebuild their homes and replace their possessions if the worst happens. Since policies often limit reimbursement by category, policy riders to cover artwork, collections, or other out-of-the-ordinary items may be necessary.

By spreading the risk across the country, the National Flood Insurance Program (NFIP) helps keep flood insurance policies affordable, but it limits coverage to $250,000 for the home and $100,000 for possessions. NFIP also does not cover additional expenses incurred if the damage displaces you from your home, but private insurance can make up those differences.

Remember, none of us can control whether a flood might affect our homes, but we can protect our families against the financial impact of a flood.

Work with Linda Dugan Insurance to Obtain Flood Insurance

The team at Linda Dugan Insurance proudly serves Astoria, OR, and will be happy to help determine your flood insurance needs. Call us or stop by today to discuss your options, and we will help you find the best policy for your family.