Articles Editor's Blog Reader Mail

Flood Insurance Wheeling WV

Usually you have to add insurance coverage for flood insurance. You will have some level of disaster protection through your homeowners insurance. Read on and know more.

E. A. Lambert Agency
(740) 633-0343
111 S 4th St
MARTINS FERRY, OH
Services
Homeowners Insurance

John L. Harler Agency
(304) 845-6606
903 Wheeling Ave
GLEN DALE, WV
Services
Homeowners Insurance

Summit Insurance Agency LLC
(304) 574-2095
211 North Court Street
FAYETTEVILLE, WV
Services
Homeowners Insurance

First Choice Insurance Inc
(304) 927-0399
413 Market St
SPENCER, WV
Services
Homeowners Insurance

James A. Reynolds Agency
(304) 272-5590
601 Central Ave
WAYNE, WV
Services
Homeowners Insurance

Stanley S. Norek Agency
(740) 676-3242
3814 Central Ave
SHADYSIDE, OH
Services
Homeowners Insurance

Ronald P. Pizzoferrato Agency
(740) 535-0487
664 Commercial St
MINGO JUNCTION, OH
Services
Homeowners Insurance

James E. Smith Agency
(304) 329-1440
301 E Main St
KINGWOOD, WV
Services
Homeowners Insurance

Insure America
(304) 296-5525
422 Monongahela Bldg
MORGANTOWN, WV
Services
Homeowners Insurance

Leonard K. Johnson Agency
(304) 622-5631
493 Washington Ave
CLARKSBURG, WV
Services
Homeowners Insurance

What You Need to Know about Flood Insurance

Provided By: 

Flood Insurance

Normally, you will have some level of disaster protection through your homeowners insurance. However, check the fine print - you usually have to add insurance coverage for flood insurance.

We have to remember that insurance companies are always stacking the odds in their favor. As risk goes up to them, the price of the insurance coverage will increase. It's that simple. If you want flood insurance coverage, you likely live in a place that gets floods, right? Therefore, you can expect flood insurance coverage to be expensive.

The key factor in getting any kind of natural disaster coverage is whether your area is prone to that kind of disaster.

This brings us to the topic of flood insurance. In many parts of the country (especially hurricane-prone areas) flood insurance is critical.

The average US flood insurance premium in 2003 was $416 a year. The average amount of flood insurance purchased for an individual property in 2003 was $151,489. Given the kinds of claims that are made when properties are damaged by flood, the costs of premiums are very reasonable, although the recent challenges with hurricanes in the south are likely to drive the cost of insurance up. The number of claims in 2004 should be expected to be unusually high because of the unusual number and ferocity of the hurricanes in 2004.

If you need flood insurance, you should be aware of the different kinds of policies. Flood insurance policies are generally available in three forms: "Dwelling" (most homes), "General Property" (apartments and businesses) and "Residential Condominium Building Association Policy" (condominiums). All of these policies will have limit's on coverage.

The big questions on most peoples minds are what type of policy I should buy and how much coverage do I need? The Federal Emergency Management Agency (FEMA), which oversees the National Flood Insurance Program, can answer many questions about flood insurance as well as flood zones, on it's website. If you need to find out more about the details of flood insurance policies directly, go to the website for the National Flood Insurance Program (NFIP). Between these two sites, you should be able to get answers to most of your common questions, including:

  • Details about flood insurance coverage
  • Coverage and premium costs

When buying flood insurance, keep in mind that most policies will not take effect until 30 days after you purchase flood insurance. So, if the weather ...

Click here to read the rest of this article from Insurance Guide 101

About Us | Contact Us | Link to Us | Privacy Policy | Terms of Use | Insurance Resources | Sitemap