I live in Arizona, I don't need flood insurance right?











What we saw in Texas and the surrounding area of Houston is a great lesson that having the right coverage could save you a lot of heartache and pain down the road.  I read a news article that 85 percent of the homes that were flooded in Texas didn’t have a flood insurance policy.  Do you need flood insurance?  The following is a little information about flood insurance. 


 


What is considered a flood as far as insurance goes?


 


When a weather event happens and the rain water hits the ground and starts flowing that is a flood.  If this flowing water enters your residence that is flood damage and is an excluded peril on your home insurance policy.  If the storm damages your home and rain enters through that damage causing water damage to your home.  That is considered water damage and is covered on most home insurance policies.  If a pipe burst in the inside of your house and caused water damage to your house.  That is water damage and is covered on most home policies. 


 


Can I wait until a major storm comes to buy flood insurance?


 


If you decide that you want to get a flood insurance policy there is a 30-day waiting period for it to be effective.  So you come into my office today and ask for flood insurance on your home.  The effective date of the start of coverage will be 30 days from today.  This is done so people don’t all of a sudden buy a flood insurance policy right before a major event.  There is an exception to this if you are in the process of buying the house or the lender is all of a sudden requiring the policy.


 


What is the cost of a flood insurance policy? 


 


This all depends on the location of the home.  If you are in a non-flood zone the premium is likely to be below $500 a year.  On the other hand if the property is in a flood zone the premium is likely to be in the neighborhood of $1,500 or more a year.  Of course there are many factors that determine the rate, so this example is just for comparison purposes. 


 


Do Arizonans need flood insurance?


 


Of course as we have seen in Texas there is a lot of destruction to homes there.  Those 85 percent of people thought they would never have to deal with a flooded house.  Unfortunately those 85 percent are going to have to make some tough decisions.  Maybe it’s time for you to consider investing some money just in case our area is hit with a major storm. 


 


Raymond E. Grim is an insurance agent with American Family Insurance.  He has been serving the Surprise, AZ area since 2001.  Raymond specializes in auto insurance, home insurance, life insurance, and business insurance.  Raymond is also an active member of the Surprise Regional Chamber of Commerce and is the chairperson for the Government Affairs Committee.  Raymond along with his wife are also associate pastors for CFTN Surprise. 





12213 W. Bell Rd. #212


Surprise, AZ 85378


623-876-1793


rgrim@amfam.com


#SurpriseInsuranceAgent


    


 



Comments

Post a Comment

Popular posts from this blog

Why UM/UIM Insurance Coverage Is Important

Image
One of the most overlooked, but probably the most important coverage on your auto insurance is the UM/UIM coverage.   Why is it important?   UM/UIM coverage goes to cover your medical bills, rehabilitation, and loss of work if someone injures you in an auto accident and they don’t have insurance or enough liability insurance to cover your bills.     In AZ it is estimated that 12% of the people driving on the streets don’t have auto insurance according to an  insurancejournal.com report.   That is about the same as the national average.   On top of that there are a lot of people driving around with state minimum coverage or one step above state minimum.   If there is a major accident this coverage isn’t going to cover everything.         Just to give an example this story from azfamily.com is about a teacher whose son was hit in an auto accident.   He has had to stay in the hospital for a while and the...
Read more

Fathers Day Fishing

For father’s day I was awakened around 5 am to my wife telling me “come on we have to go.”   I thought “what?”   She said “we have to go, so get dressed”.   So I got dressed and she takes me to my daughter’s house to have breakfast at 6 am, it was an awesome breakfast and all of my kids were there.   There also was a young man there that I mentored who is a friend of my son. After breakfast they gave me a card and said lets go and that they were taking me fishing up on the rim.   It was a great day spent with the kids. We fished in the heat of the day so the fishing wasn’t good, between six of us we caught one fish.   That’s how it goes with fishing, sometimes you catch fish and sometimes you don’t.   But one fact remains; as long as you’re fishing there is always a chance to catch one.   My job is to advise people on how much and which insurance they need.   One fact remains with auto insurance, as long as you are on the ...
Read more
Image
Congratulations to the High School Graduates!!!!!   It’s that time of year that every high school is having their graduation ceremonies.   It’s an exciting time that the end of the year and primary schooling is done.   For some it is the beginning of their college years.   Not all kids and parents can afford to pay for the college up front.   Some have to take out student loans to fund their child’s college education.   Below are some thoughts as students prepare themselves this summer to attend college.          Life Insurance   Students for the most part are not in a position of having someone dependent on them.  But it’s a good idea to have some sort of life insurance for the following reasons.  1.       Any student loan that the parent co-signs could be a debt that would have to be paid in case of the death of the student. 2.  ...
Read more