Did you know that standard homeowner insurance policies do not cover damages caused by flooding? Many people don't, which can lead to added heartache and trouble in the event of major storms. That's why when it comes to finding reliable flood insurance, Illinois property owners turn to Advanced Insurance Solutions.
We can make sure that in the event of flooding, you'll have coverage that gives you Actual Cash Value of your property's structure. In addition, we'll also make sure your policy provides the estimated cash value for any possessions that were lost or damaged due to the flood.
Live in a Flood Zone?
Everyone realizes they need home insurance. But recent weather patterns tell us that flood insurance is becoming increasingly important, especially for people living in designated flood zones. This includes people living inland near rivers or who may even be impacted by melting snow. Don't wait until it is too late. Remember, every policy has a 30-day waiting period before it goes into effect.
What is Flood Insurance?
This policy covers you against the loss of property through flooding. In Illinois, insurance companies will assess the risk affecting a property based on topographical maps that denote lowlands, flood plains, and floodways. It covers physical losses from floods or erosion caused by waves and water currents. This policy also covers personal belongings such as clothing and personal effects in the house that could have been destroyed by floods.
What is Covered by Flood Insurance?
Flood insurance covers the contents of the home and its structure. Each of these has its premiums and limits of payments. The structure of the home includes the foundation, electrical plumbing, permanently installed carpeting, or water heaters.
Contents of the house include clothing, furniture, electronics, or dishwashers.
Do You Need a Flood Insurance Policy?
The weather is unpredictable. It is possible to lose properties to floods that you invested in for years, in a short time. For homes in flood risk areas, you must have a flood insurance policy to avoid financial losses. If the property is under a mortgage, then the flood insurance policy is a mandatory requirement in these areas.
Institutions such as the Federal Emergency Management System, may classify certain areas as flood zones and make it a mandatory requirement to have a flood insurance policy. In Illinois, these areas have been well identified on maps.