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Flood and Earthquake Insurance Policies Sioux Falls SD

About 100 insurance companies, possibly including the company that handles your homeowners or auto insurance, write and service flood insurance policies for the government. Read on and know more.

Bechtel David & Don Insurance
(605) 336-6227
232 East 12th Street
SIOUX FALLS, SD
Services
Homeowners Insurance

Ahrendt Insurance Agency
(605) 339-2990
1200 East 57th Street Suite 4
SIOUX FALLS, SD
Services
Homeowners Insurance

Starr Insurance
(605) 673-3799
38 Mount Rushmore Road
CUSTER, SD
Services
Homeowners Insurance

Farmers Union Insurance
(605) 229-3945
634 South Roosevelt Street Suite 2
ABERDEEN, SD
Services
Homeowners Insurance

Person Leroy-Farmers Union Insurance
(605) 352-2130
1500 Dakota Avenue South
HURON, SD
Services
Homeowners Insurance

Boen & Associates- Incorporated
(605) 336-0425
307 West 41st Street Post Office Box 89010
SIOUX FALLS, SD
Services
Homeowners Insurance

Exchange Insurance Agency
(605) 647-2853
206 South Main Street
LENNOX, SD
Services
Homeowners Insurance

Farmers Union Insurance
(605) 387-5555
122 South 5 Street
MENNO, SD
Services
Homeowners Insurance

MT & RC Smith Insurance
(605) 665-3611
306 Walnut Street
YANKTON, SD
Services
Homeowners Insurance

Midwest Insurance Agency
(605) 665-2389
909 Broadway Avenue Suite 5
YANKTON, SD
Services
Homeowners Insurance

Flood and Earthquake Insurance Policies

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Flood And Earthquake Insurance

When your home is flooded, it can lead to financial ruin if you don't have the proper insurance. And, in all likelihood, you don't have the proper insurance. A basic homeowners policy won't cover your flood damage! You need specific flood insurance. In most cases, you can only get this as a special policy backed by the federal government, with cooperation from local communities and private insurance companies who actually write the policies.

About 100 insurance companies, possibly including the company that already handles your homeowners or auto insurance , write and service flood insurance policies for the government, which finances the flood insurance program through premiums. The government agency responsible for this is the National Flood Insurance Program (NFIP), which is under the administration of the Federal Emergency Management Agency (FEMA). FEMAs website is www.fema.gov , for more information on this agencys overall mandate.

Although flood insurance is relatively inexpensive (given the cost to the insurer), most Americans tend to avoid purchasing protection. Only about one-quarter of the homes in areas most vulnerable are insured against flood loss, according to the Federal Insurance Administration (FIA). In vulnerable areas, flooding is 26 times more likely to occur than a fire during the course of a typical 30-year mortgage. It's critical to have insurance.

If you live in a flood-prone area, you need to be sure to contact NFIP in order to find out which insurance companies are providing flood insurance in your area. Keep in mind that many insurance policies will not pay benefit's until 30-days after the policy is in force. So don't wait until just before hurricane season to purchase! You should carry this insurance year round, to reduce your risk of an uncovered loss.

Another natural disaster common in the US is earthquake. Again, your basic homeowners insurance will NOT cover you for earthquake damage. You have to carry specialized coverage.

Since the beginning of the 20th Century, earthquakes have occurred in 39 states. Approximately 90 percent of Americans live in areas considered seismically active. Even so, only a small percentage of people purchase earthquake insurance. Even in California, where earthquake fears are a daily fact of life, less than 15 percent of homeowners have earthquake insurance according to the California Earthquake Authority (CEA), down from 30 percent in 1996 when the state legislature created the California Earthquake Authority. Each year, more homeowners get rid of earthquake coverage than buy it because, according to consumer groups, the policies cost too much and cover too little. Who buys earthquake insurance?

According to the U.S. Geological Survey, there is a 70 percent probability that one or more damaging earthquakes of magnitude 6.7 or larger will strike the San Francisco Bay area during the next 30 years. A magnitude 6.7 earthquake is equ...

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