There is no way to predict when a natural disaster will happen, which is why it is important to make sure that you have the right amount of protection with the right insurance policies. Investing in a flood insurance policy is the only way to ensure that you are protected in case of a flood.
While your homeowners insurance policy provides coverage for many unfortunate situations, it will not provide any coverage in the event of a flood. Only a specific flood insurance policy will provide the coverage needed. It is important to keep in mind that a flood insurance policy has a 30 day waiting period before it becomes active, which is why there is no better time than now to invest in a policy. If your home is damaged or destroyed in a flood while the policy is still in the waiting period, you will be left paying out of pocket to cover the repair costs.
All flood insurance policies provide coverage for the structure of your home. Most policies will also provide coverage for your belongings that are kept in your home, but make sure to ask your insurance agent to ensure that you have the right amount of coverage. A flood insurance policy will not provide coverage for any outside equipment or machinery that was damaged in a flood.
The cost of a flood insurance policy depends on many factors, including the size of your home. The price of your premiums will also depend on the location of your home. If you live in a high risk area, you will pay more for your premiums than someone that lives in a low to moderate risk area.
For all of your flood insurance needs throughout Minnesota, contact North Central Insurance. We will work with you to ensure that you have the right amount of coverage for your specific situation.