Excess Flood Insurance
Many people who purchase flood insurance get it from the National Flood Insurance Program. The NFIP policies are backed by the federal government, meaning they are generally regarded as being reliable and sound. However, NFIP insurance policies only go up to $250,000. While it may sound like a lot of money $250,000 is not that much when you consider the potential damage a flood can cause. For that reason, many of our customers with flood insurance seek further protection by purchasing excess flood insurance.
What is Excess Flood Insurance?
An excess flood insurance policy kicks in once your primary flood insurance policy has hit its limit. It is like an added layer of protection, ensuring that you are not left without adequate coverage in the event of a catastrophic flood.
Why Would You Need Excess Flood Insurance?
You need excess flood insurance if the value of your home is anywhere close to $250,000. Keep in mind that a flood can effectively destroy not only your home, but all your possessions in it as well. This means that, in considering the amount of flood insurance you need, you should consider both the cost of your home and all your belongings. As you can see, the prospect of exceeding $250,000 in total damages is not that unlikely, after all.
Let Highmark Insurance Help You with Your Excess Flood Insurance Needs.
At Highmark Insurance, we are familiar with the industry for excess flood insurance. We know what types of coverage are available, and what will most likely be the result of flooding in your area. Come in and see us and let us evaluate your situation.
We’re happy to sit down with you, review your coverage, and identify key areas where you need additional coverage. We’ll educate you as to your options and let you make the choice that best protects you and your family.