Personal Insurance - Flood

If you think you don't need flood insurance, consider this: Your home has a 26% chance of being damaged by a flood during the course of a 30-year mortgage, compared to a 9% chance of a fire (floodsmart.gov). 

Water Damage: Are you covered or not?
(from the Insurance Information Institute)

Flood Insurance Facts:

• Everyone lives in a flood zone. Some areas have a higher risk of flood than others. What's your flood risk? Enter your address and find out at floodsmart.gov. (You'll get the relative flood risk to your property and links to flood insurance resources.)
• Most homeowners insurance does not cover flood damage.
• Just an inch of water can cause costly damage to your property.
• A car can easily be carried away by just two feet of floodwater.
• Hurricanes, winter storms and snow melt are common (but often overlooked) causes of flooding. Review flood risk scenarios at floodsmart.gov.
• Relying on federal aid could mean the difference between paying $240 a month or $33 a month. Federal disaster assistance is usually a loan that must be paid back with interest.  (For a $50,000 loan at 4% interest, you'll pay about $240 a month for 30 years.  Compare that to a $100,000 flood insurance premium, which costs about $33 a month, depending on your flood zone.)

National Flood Insurance Program

Westfield works with FEMA's National Flood Insurance Program (NFIP) to write flood coverage through our independent agents.  FEMA provides a ton of information about floods, your risks, and how to protect yourself at www.floodsmart.gov.

Source for flood insurance facts: www.floodsmart.gov.