bigstock Deep Flood Water 50121614 - Flood Insurance, Do You Really Need It & Is It Worth It?

Many homeowners decide to go without flood insurance. Some people figure the odds are low that anything will happen, while other people think that a flood is covered under their current policy. Let us correct you; unless you have added flood insurance coverage, it is excluded. We agree that the probability is low, nonetheless, it does exist. Now is the time to consider California flood insurance especially if you live on the side of a hill or mountain, or close to water. The average flood claim for U.S. homeowners is about $30,000, according to the National Flood Insurance Program.

Flood Defined

According to FEMA, a flood is defined as an overflow of tidal waters, rapid accumulation or runoff of waters from any source, mudflow, or collapse of land as a result of erosion caused by waves of water. You do not have to live close to water to have a flood loss.

Flood Insurance & Your Homeowners Insurance

All homeowner’s policies exclude flood. You need a separate policy to cover a flood loss. If you live on a hill you are still exposed to a possible flood loss from water run off above your property. We recommend that homeowners. Even those who do not live in designated flood plains need to weigh the dangers and consider buying flood insurance.

If you rent your home or live in a condo, you can buy flood insurance for just your possessions.

The National Flood Insurance Program (NFIP) offers coverage and we can help you secure affordable coverage.  We will review your property and location and review the NFIP and other private markets with whom we have relationships with. We bring our expertise to provide you with the best possible combination of coverage, price and service.

At Vaught Wright & Bond our Commercial Lines specialists not only tailor a policy to fit your business’ needs, but also work diligently with you to avoid unnecessary costs and exposures.

We offer auto, homeowners, health, life, business, and virtually any other insurance policies. We maintain our home office on the historic Placerville Main Street, but we provide coverage to clients throughout the states of California, Oregon, and Nevada.