Homewoners Insurance and Business/commercial Insurance

Water Damage to Your Property

Over the past few years, our area has experienced several heavy rainstorms. Many of you had water in your basement at home and at the office. Some of this came in through the drains, some came in through the cracks and some came in from the surface. As many of you found, out water like this can cause a lot of problems and cost a lot of money to clean up! Unfortunately, many people found out that these losses were not covered by your insurance policy. The good news is that this type of loss can be covered.

For businesses, if you are not located in a flood zone you can usually get your current insurance company to provide flood coverage. They sometimes offer either a flat deductible on this coverage, or a percentage deductible. We recommend a flat deductible when it is available. If you are in a flood zone or if you are a homeowner, the only option is through the national flood insurance program. The cost depends on what type of flood zone your property is located. It will have a flat deductible.

Coverage for loss due to Back up of Sewers & Drains is usually available through your standard insurance carrier. This usually is offered in lower limits such as $5,000 or $10,000. This is subject to the same deductible applicable to other property losses. Some insurance companies will offer to increase the limit for an additional premium charge. This coverage will not replace flood coverage, but it might be more appropriate for property located out of flood prone areas, since this coverage does not apply if there is general flooding in the area.

The bottom line here is to be educated about these risks. If you are not sure if you have any coverage or would like to get a quote on adding one of these coverages, please call. We will be glad to assist in any way we can!