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10/19/2012 - Flood insurance reminders to keep in mind


Flood insurance must be purchases separately from home insurance.

While much of the U.S. was caught up in drought-like conditions during the summer, floods can happen at any time and with little warning. With this in mind, a Cleveland-based water restoration company is providing homeowners with tips as it pertains to flood insurance.

As noted by Restoration Local, a basic homeowners insurance policy does not include flood insurance coverage. However, most providers do offer plans that can be purchased separately through the Federal Emergency Management Agency's National Flood Insurance Program. Since 1968, the NFIP has enabled millions of people to financially recover after enduring damage brought about by high water levels.

Homeowners should be advised, however, to purchase a flood insurance policy sooner rather than later, as coverage does not kick in for 30 days after it's bought.

As far as price is concerned, Restoration Local notes that most plans are affordable, often costing less than $200 for a year's worth of protection. However, prices vary based on geographic factors as well as property values.

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