It’s hurricane season, and as we’ve seen recently the cost of one of these storms can be catastrophic. In light of recent events we thought it would be wise to put out some information regarding flood insurance. Shockingly, about 80% of Hurricane Harvey victims do not have flood insurance. That means families with flooded basements, soaked furniture and water-damaged walls will have to dig deep into their pockets or take on more debt to fix up their homes. Some may be forced to sell, if they can, and leave their communities. Most people believe that flood insurance is only important if you live in unsafe areas near bodies of water. However, every home owner and commercial property owner should at least consider purchasing flood insurance. There are so many reasons to consider getting flood insurance if you live in MA or RI; here are 5 reasons that you may not have known about previously.

Floods are the most common Natural Disaster:
Experts reveal a very interesting fact about flood insurance; they say that almost 25% of claims for flood damage are made by people living in low to moderate danger zones. The fact is that flood related disasters don’t always originate from rivers or other large bodies of water. They may happen due to poor drainage systems, broken water mains or rapid rainfall that lead to serious and extensive damage to properties.

Homeowner policies do not include flood damages:
Few of you may be aware of the fact that most home owner insurance policies do not provide assistance for flood related damages. Therefore, if you face any loss after flood then you have to bear all the cost for repair and restoration out of pocket. Especially, those who are living in an unsafe zone are advised to purchase a flood insurance policy.

Flood Losses can cause large financial loss:
Most people have a common misconception that flood damages are not very costly unless the entire house is flooded. But studies reveal that even small water damage can lead to an expense as high as up to $20,000 or even more, flood insurance would of course cover this cost.

They are reasonable solutions:
The premiums for flood insurance policies in Rhode Island and Massachusetts are very reasonable, especially if you are not in a flood zone. To apply for a flood insurance policy you simply need to provide some details about yourself and your property (Contents, age, location etc.)

The Federal Government will not guarantee you any help for flood damage:
Floods can bring serious risks to anyone who owns property in coastal areas like Massachusetts and Rhode Island. Therefore it is good to take few protective steps towards your home or commercial property and get it insured. Flood insurance is a reasonable solution that will help protect your property. The Federal government does not cover flood related risks for people who don’t live in a flood zone, and only limited coverage for those who do, so it is good to search few trustworthy insurance service providers and get your property insured fast.

Taking this all into account, it makes a lot of sense to consider purchasing a flood insurance policy. If you own a house or a commercial property in the coastal area then flood insurance policy is an essential purchase. The professionals at Lapointe Insurance advise can help provide you with a quote to protect your property, and give you the advice you need to ensure your loved ones are safe.