Category: Flood Insurance

Living in Uniontown, OH, can be wonderful, but it also comes with risks, such as flooding. Whether it’s in your front yard, backyard, or making its way into your home, floods can cause significant damage. Unfortunately, the average home insurance policy doesn’t cover floods, leaving you vulnerable to costly repairs and replacements.

You shouldn’t have to bear the financial burden of replacing furniture and making home repairs because your insurance denied a claim. That’s why flood insurance is essential, and our agents at Bonvenuto Financial Group LLC are here to help.

Why Flood Insurance Is Important

Home insurance covers many scenarios, but floods are considered unique and are excluded from standard policies. Floods can cause extensive damage, and insurance companies view them as too expensive to include in regular coverage.

Flood insurance is sold separately, and whether you’re required to have it depends on your location. If you’re in a flood zone, your mortgage company will likely mandate flood insurance. Even if you’re not in a flood zone, it’s a smart investment to protect your home from unexpected flooding caused by severe storms.

Determining Your Flood Risk

FEMA identifies flood zones annually. If you can see a body of water from your home, you’re likely in a flood zone. In such cases, flood insurance is not only recommended but often required.

However, even if you’re not near a body of water, flooding can still occur during heavy storms. This makes flood insurance a wise choice for homeowners who want to be prepared for the unexpected.

Talk with an Agent Today

Don’t wait to find out if you need flood insurance. The truth is, floods can happen anywhere—even outside FEMA-rated flood zones. It’s better to err on the side of caution and ensure you have the coverage you need in Uniontown, OH.

Contact us at Bonvenuto Financial Group LLC today to learn more about flood insurance options. We’ll provide you with quotes and the information you need to make an informed decision.

Ensuring your home against flood damage is essential, but you may find yourself pondering which type of flood insurance to choose. What’s the difference between NFIP and a private flood policy? Contact us at Bonvenuto Financial Group LLC, in Uniontown, OH, for guidance on flood insurance.

Two Types of Flood Insurance

Until 2012, the NFIP, or the National Flood Insurance Program, was the only option available for flood insurance. The government established the NFIP to provide affordable flood policies to homeowners.

However, in 1983, the WYO, or Write Your Own, policies emerged. This allowed private companies to offer flood policies that the NFIP underwrites.

Differences Between Policies

Private flood insurance policies offer more flexibility and options than NFIP plans.

For instance, an NFIP plan provides up to $250,000 in dwelling coverage. Private policies can include $500,000 or more in dwelling coverage. Dwelling coverage pays to repair or rebuild your home if it is damaged.

An NFIP policy limits content coverage to $100,000. However, private policies can offer more coverage, with some offering up to $250,000 worth of coverage for contents, depending on the insurer.

This type of coverage takes care of your belongings, including furniture, jewelry, and other possessions.

Lastly, loss of use coverage isn’t included in NFIP policies, but some private policies include it. Loss of use coverage comes in handy if you are temporarily unable to live in your home due to flood damage.

Bonvenuto Financial Group LLC

If you have inquiries about flood insurance in Uniontown, OH, feel free to contact us at Bonvenuto Financial Group LLC. Our agents are ready to discuss your requirements and assist you in choosing the most suitable policy.

Bonvenuto Financial Group LLC is proud to help our friends and neighbors in the Uniontown, OH area with all of their flood insurance needs. If you’re wondering if it’s time to get a flood policy, we’re here to answer any questions you have. 

We’re Here to Answer All of Your Flood Insurance Questions

Flood insurance is often a mystery for many homeowners. If your property isn’t located in a flood plane and if flood insurance isn’t required by your lender, it can be difficult to know if it’s right for you. Fortunately, your team of local insurance agents is here to help.

There are a number of different reasons why flood insurance is a smart thing to have. If your property is located in a low-lying area that receives a lot of heavy rainstorms, it’s time to look into obtaining a flood insurance policy. Another benefit is the additional coverage it offers above and beyond your primary homeowner’s policy.

Most homeowners’ policies have a lot of exclusions when it comes to water damage. You might be surprised to learn what types of damage your primary policy excludes. This is why it’s an important step to take to review your current policy at least once a year.

Once you’re clear on what your primary policy doesn’t cover, you can start working on closing up any gaps you have in protection. A flood insurance policy is usually the first step to ensure full coverage for your property. 

Give us a call or stop by today!

When it comes to insurance help, you can count on our team here at Bonvenuto Financial Group LLC. We’re proud to serve the insurance needs of the greater Uniontown, OH area. Contact us today to learn more about our services.