By M Wyzanski<\/p>\n
Record breaking flood waters have emerged following one of the most devastating hurricanes the US has come to know. In fact, in the southeast areas of the lone star state, the majority of homeowners do not even own flood insurance. And who can blame them? There was never a precedent in the locality. Although hail and wind storms are a constant concern for property and business owners, no one imagined that rain waters would contribute to enormous damages as those suffered and broadcast throughout the country in recent days. Surely not the home mortgage companies, for they do not even require it from borrowers!<\/p>\n
But now that the toll has risen among the dead and those forced out of their homes seeking shelter, one thing remains clear. When things eventually do settle down, home owners and people in the commercial sector will have to deal with the epic losses and damages on their own because of a lack of related coverage.<\/p>\n
For homeowners without flood coverage the facts are uncomfortable, as they are painful: a standard home insurance policy does not protect from floods and the damages related to them. The insurance industry stresses in no uncertain terms that compensation is only provided to those who had the foresight to acquire flood insurance in the event of water damage emanating from atmospheric conditions like a hurricane, a tropical storm or other inclement weather.<\/p>\n
A little history about Flood insurance:
\nThe year was 1968 when the US Congress mapped out its flood program. Designed to help assist home and business property owners from the financial ravages of a damaging flood, its policies are offered in all communities that are involved in the rules of participation.<\/p>\n
Flood coverage shields property owners or renters from building damage and contents damage.
\nThis includes the following:
\n\u2022 The structure, as well as building foundation
\n\u2022 Electric and plumbing systems
\n\u2022 Central air conditioner, furnace, water heater
\n\u2022 Refrigerator, stoves, and any installed appliances, like a dishwasher
\n\u2022 Carpet that has been installed over bare flooring
\n\u2022 Personal clothing and electronics
\n\u2022 Drapery
\n\u2022 Transportable heaters and air conditioners
\n\u2022 Carpeting other than what is included in the property coverage
\n\u2022 Washers and dryers<\/p>\n
Typically, flood recompense claims include:
\n\u2022 Replacement Cost Value: up to eighty percent of the amount needed to replace property damages in a single-family, primary residence
\nand
\n\u2022 Actual Cost Value – replacement costs at the time of loss reduced by physical depreciation<\/p>\n
Note: The flood program always uses actual cost value to determine reimbursement of personal property.<\/p>\n
Article Source: https:\/\/EzineArticles.com\/expert\/M_Wyzanski\/2158115<\/p>\n
Note from InsureUS: As a result of Hurricane Harvey and the horrific devastation caused by flooding in Harris and surrounding counties, floodplain maps will likely be revamped in the near future, which means rates for flood insurance could be on the rise. If you believe your home may be in a period that will be on the new floodplain map, NOW is the best time to act on it as the rates will go up after the new maps are created. Call InsureUS today at (281) 640-8888 for your quote.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" By M Wyzanski Record breaking flood waters have emerged following one of the most devastating hurricanes the US has come to know. In fact, in the southeast areas of the lone star state, the majority of homeowners do not even own flood insurance. And who can blame them? There was never a precedent in the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,3,1,30],"tags":[],"class_list":["post-753","post","type-post","status-publish","format-standard","hentry","category-general","category-home-insurance","category-insurance","category-safety"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t