Flood and Windstorm Insurance
Intense storms can cause serious damage to your home or business. Tremendous rainfall can cause flooding, and strong wind gusts can harm homes and property. It can be difficult for your family to recover from the loss of possessions and property. Having flood and windstorm insurance will protect your possessions and help return your life back to normal.
Whether it is an inch or a foot plus of rising water, it calls for gutting of the first 4 feet in many cases and can be costly when you factor in labor, construction costs after a catastrophe and mold remediation.
Did you know technically EVERYONE lives in a Flood Zone? Many consumers thought because they were not required to have Flood Insurance that perhaps it wasn’t a risk, sadly that is far from the truth. We are all either in a Low Risk (or “X” Zone) or in a High Risk (“AE” Zone as you may see it).
Did you know 80% of Flooding occurs in a “Low Risk” zone?
Your Primary Home is one of your biggest assets and many do not know Flood is excluded on all policies.
Flood and windstorm insurance can also protect your home from tidal waters and damage from tropical storms and hurricanes. This kind of insurance is especially necessary if you live in a coastal area.
The only policy that covers natural rising waters from the outside-in is flood insurance. If you do not have flood insurance then you have a large gap in your insurance. Whether you are in a flood zone or not, it is always in your best interest to have flood coverage. Rates are the same with all carriers since flood insurance is written through the government (F.E.M.A – Federal Emergency Management Agency).
Rates start as low as $200 annually for homeowners – $504 annually for up to $250,000 in coverage for your property and include $100,000 in personal property coverage in all “preferred zones”.
Do I need coverage if I rent?
For all those in rented homes or that live on the first floor, the answer is yes. Renter insurance, like any other policy, excludes natural rising waters from a flood. Rates are as low as $79 annually.
Windstorm coverage is also a separate policy for the areas that cannot obtain the coverage included in their homeowner’s policy. These policies are state-regulated through T.W.I.A (Texas Windstorm Insurance Agency) and also fill a large gap in coverage since no home policy will cover a windstorm/hurricane for many of the coastal areas.
Homeowners + windstorm + flood + umbrella covers your property from all aspects from a liability and property perspective.
How to save on premiums?
Make sure your roof is documented for all updates by a certified engineer. They can guarantee that your roof is up to standards. This is important in order to receive the appropriate rating on your windstorm policy & homeowners insurance.
Flood and windstorm insurance cover damage from the following:
- Tidal waters
- Flash floods
- Rising rivers
Commercial Flood For Businesses and Property Owners
FEMA can offer a Business that is a tenant coverage from $50,000 up to $500,000 for its contents/inventory. If your lease has you responsible for the building we can cover your buildout which can be costly.
Strip Centers, Office Buildings or Stand-Alone Commercial Property can be your biggest investment. Flooding is one of our largest exposures and many do not know it is the largest exclusion on all policies.
FEMA can offer up to $500,000 for your property and up to $250,000 in contents in Preferred Zones for approximately $2,500 per year.
Did you know?
There are Private Insurance Carriers that cover above the FEMA basic policy. This is called Excess Flood – many large one stories need more than the standard policy? This has saved consumers from having only enough to rebuild a portion of their property instead of all
Check your homeowner’s insurance policy. Talk to an agent about what is covered with your insurance and where you could use more coverage. Sometimes insurance plans cover specific situations, but other situations are not covered. It is good to understand the full parameters of your insurance plan so that you know exactly what is covered and where you could use more insurance.
We know that your home or business is much more important to you than simply the brick and mortar. Your home contains memories and valued possessions. Protect your assets from natural floods and windstorms that are not covered by your homeowners’ policy. Are you required to have windstorm insurance, or do you have questions?
Make an appointment with one of Rafail’s insurance agents. We can help you obtain coverage through Texas Windstorm Insurance. For more information on our policies, give Rafail Insurance Group a call today!