How Do I Know If I Need Flood Insurance?

Ever wonder if you are in a flood zone? Well guess what? You are! As a matter of fact everyone is! The only difference is how much you will have to pay for your annual premium. Most people who are not required by a lender assume that they are covered by their homeowners insurance policy which is not true. Flood insurance is purchased as a separate policy in addition to your homeowners policy and is available to everyone, not just high zoned risk.

Disaster preparation is very important, even if you are not located in a high risk flood zone. This is the entire purpose of insurance in general. Insurance protects you from unplanned setbacks. Are you aware that sanctioned communities do not qualify for Federal disaster assistance for floods? If you have a flood related disaster and require assistance for acquisition, construction, or reconstruction purposes in special flood hazard areas? This has serious implications for your community’s real estate market and long term economic well-being. In addition, all lenders regulated by the federal government must notify the purchaser or lessee that Federal disaster assistance is not an option for the property in question in the event that a flood occurs.

The National Flood Insurance Program or NFIP is not always available nationwide. If your community in New Jersey, South Carolina, Texas, Virginia, or Wisconsin is not enrolled
or covered by the NFIP, then your community has distinct limitations for access to FEMA disaster assistance. This limitation directly affects both public and individual assistance. The Flood Insurance Act of 1968 prohibits federal assistance toward acquisition or construction within special flood hazard zones. This law sanctioned limitation
is the reason why your community may or may not be covered by the NFIP.

There are even limitations to communities eligible for the NFIP program since FEMA rates are regulated and set by the federal government.. Did you know that standard flood insurance programs covered by NFIP only provide $250,000 of protection
for residential structures, and only $500,000 for commercial? This is a clear gap of coverage for many homes that exceed a $250,000 value. We at Quesurance Group do not want you to sell yourself short.

Fortunately for our customers we have access to several private flood markets so we are able to place those A, and even difficult V zones, COBRA (coastal barriers) and non-participating communities without breaking the bank! If you are not sure if you are in a community not covered by the NFIP or if you just want to be sure why not contact Quesurance Group and let us run a zone determination for your property today?

Not only do we offer FEMA policies for our V.A.( Veterans Administration) & FHA customers, but we have access to several private markets in order to give you the cheapest rates available.

Don’t wait until after a natural disaster! Call us for your free quote today and find out if flood insurance coverage is right for you!