There are several factors to consider when buying a flood insurance policy

Does the community I live in participate in the National Flood Insurance Policy?

NFIP only offers the flood policy to participating communities through the federal government. At our agency in Greeley, CO, we do not experience much flooding. However, flood damage can still happen anywhere in Colorado. Flooding can result from storms or snow melting, resulting in significant damage that would cost a lot of money for renovations and replacement. It is prudent to keep an inventory of the items in the house to be prepared when disaster strikes.

What is covered by the flood insurance policy?

The flood insurance policy covers the house and personal property, including furniture and electronic equipment, among others. When buying a flood insurance policy, you will have the options of coverage for the building only, coverage of the contents of building only, or both building and its contents.

What are the flood policy limits?

It is vital to take note of the limits available on a standard policy. This ensures that you pick a policy that will be suitable for you. Where you need extra coverage, we will offer you an excess flood policy. Maanen Insurance group agents in Greeley, CO can help advise you on what best suits your needs.

What is the flood policy waiting period?

There is a 30-day waiting period for a flood policy or before changes to an existing policy are made. It is advisable to take the policy before severe weather is experienced in your area.

What is the cost of a flood insurance policy?

This will dramatically depend on the location of your home. High-risk properties may cost you higher as the likely risk of flooding is greater. While a flood policy may be expensive, it will be a lifesaver once your property is damaged.

Visit us at Maanen Insurance group in Greeley, CO, where our professional agents will advise you further on our products. A review of your existing policy can also be done based on the changes you would prefer.