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


    


 



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