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Understanding why Flood Insurance is Important
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Posted On :
Sep-10-2009
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Article Word Count :
348
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When debating on flood insurance, you may try to tell yourself that it doesn’t flood where you live. However, there is the possibility in any area, and this is the reality.
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When debating on flood insurance, you may try to tell yourself that it doesn’t flood where you live. However, there is the possibility in any area, and this is the reality. To understand what I am saying, first you have to know the definition of a flood. As an example, you must understand that a mudslide is defined as a flood, and if you want your damage to be paid for you must fill out a claim on your flood policy, not your homeowner's policy. A flood is defined as any depth of water damage. This includes any kind of damage made to your residence by occurrences like a severed water hose from a dishwasher or a broken water main. Even damage from someone's broken sprinklers would be categorized as flood damage. The expense of repairing your home due to water or mud damage can be overwhelming if you do not have a comprehensive flood insurance policy.
Something else to think about is that some of the worst floods in recent history have been in parts of the country that have a low risk of experiencing a flood. Hurricane Katrina is a perfect case where thousands of people lost their homes from a storm and never got them back because they were not covered by flood insurance. Thousands of people's damages could have been covered with basic flood insurance, if they had flood policies when the storm came.
Realizing that a layman's definition of what a flood is and what an insurance company believes a flood is can save you a lot of money and avoid heartbreak later on. Knowing the difference between what a flood insurance policy covers and what a homeowner’s insurance policy covers may help you decide to purchase a flood policy for your home. You should not delay in purchasing flood insurance; since insurance companies usually impose a 30-day waiting period before your flood insurance begins. Quickly approaching are summer's strong tropical storms and the heat that melts snow. Acquire adequate flood insurance for your family before disaster strikes.
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Article Source :
http://www.articleseen.com/Article_Understanding why Flood Insurance is Important_3110.aspx
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Author Resource :
Once Mac Rousinburg decided to open his own business, he immediately started researching commercial flood insurance companies. When requesting flood insurance quote, Mac found AM Flood to have the best flood policies at the most competitive prices.
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Keywords :
commercial flood insurance, business flood insurance, excess flood insurance, private flood insurance, buy flood insurance,
Category :
Finance
:
Insurance
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