The Importance of Flood Insurance

Think you can get away with having no flood insurance? We have some facts that may make you want to reconsider:

  • Flood losses are not usually covered by homeowners or renters insurance
  • There is a 26 percent chance of experiencing flooding within a 30-year mortgage
  • Floods are the most common natural disaster in the country

Why Is Flood Insurance Important?

You’re probably telling yourself that a flood will never happen. No way, not to you. But the reality is that anyone can experience a flood at any time. It doesn’t necessarily take a major tropical storm to cause water damage! In fact, nearly 25 percent of flood insurance claims come from low to moderate risk areas.

Anything from a frozen pipe on a cold day to a broken sewage line can lead to flooding, not just a heavy amount of rain—though residents of the DC area are no stranger to heavy rains either!

Additionally, flood insurance:

  • Is available at low costs
  • Can save you thousands of dollars in restoration costs (the average home flood can cause over $38,000!)
  • Can cover both the structure of your building and the contents
  • And more!

What Does Flood Insurance Cover?

Flood insurance typically covers any physical losses resulting directly from the excess water in your home or building. That means both structural issues related to your property itself and damage to the contents within your home or building.

How much you’ll receive varies depending on whether you’re a homeowner, a business owner, or a renter. Here’s a look at the average payments you can expect:

  • Renters – up to $100, 000 for personal belongings
  • Homeowners – up to $250,000 for structural losses and $100,000 for contents
  • Businesses – up to $500,000 for structural losses and $500,000 for contents

How to File a Claim for Flood Insurance in Maryland, Virginia, or Washington, DC

If you’ve experienced flooding in Maryland, Virginia, or Washington, DC, or want to learn more about the filing process before purchasing flood insurance, we can help. At Tri State Restorations, we work with many local insurance providers and understand the process well. We even offer continuing education classes to help insurance agents learn more about the restoration process.

And when you call us to clean up flood damage in your building, we’ll bill your insurance company directly so you won’t have to worry about a thing—we even offer 25 percent off on insurance deductibles to help you restore your space without breaking the bank in the process!

Call today to learn more about handling your restoration claim through Tri State Restorations and we’ll do everything we can to help you through the next storm!