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3 On Your Side

Consider flood insurance before monsoon storms hit

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"I've never seen anything like this, ever." That's how a lot of folks felt last year when Mother Nature socked us with quite a punch during the monsoon. Water covered everything from streets to homes.

Drivers were left stranded on the I-10 and Valley neighborhoods were devastated. Just two inches of flood waters inside a home can cause thousands of dollars in damage. And that's that will come out of your pocket to repair unless you have flood insurance. 

"Asking homeowners, renters and business owners to start thinking about the flood insurance, thinking about what they need covered," says Nicole Farr with the Arizona Insurance Council. She's quick to remind people that having a standard homeowner's insurance policy may cover your home in the event of a fire, for example, but flood waters usually need a separate flood policy.  "Policies start as low as $129 a year," she adds.

And for $129, exactly what's covered? Well, more than you think.

"It covers the walls of your home, permanent flooring, carpeting. If you have wood floors it will cover all that, and permanently installed cabinetry. It pretty much covers the shell of your home against flooding."

And Nicole says an additional policy would be needed to cover your home's contents. "It's the contents of your home, which are your computers, stereos, TVs, couches, fine jewelry, artwork, draperies that you may have in your home, your own self-installed items."

So with the monsoon quickly approaching , Nicole says beefing up your policy with flood insurance is something you might want to consider. "Definitely contact your insurance agent or company representative that covers our homeowner's insurance and speak with them about what next steps you might be able to take to check your policy, or go ahead and get one started."         

 For additional information about property and casualty insurance visit:  http://azinsurance.org/prepare-with-flood-insurance-coverage/


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