Homeowners will see increases in the rates they pay for flood insurance soon, if they haven’t already, with owners of vacation homes seeing the biggest jump. But that isn’t reason enough to drop coverage. Flood insurance is one of the best deals going.
Have questions about the FEMA inspection process or how to get help? Contact the appraisers at www.scappraisals.com; they are FEMA certified flood and disaster inspectors.
Though floods can bring walls of water 20 feet high, even a few inches of water can cause thousands of dollars in damage. Between 2007 and 2011, the average flood claim fielded by the National Flood Insurance Program was nearly $30,000. The cost of the typical flood policy is about $625 a year.
Don’t make the mistake of thinking that your homeowner’s policy has you covered, or that a flood won’t happen to you. According to the Federal Emergency Management Agency, which operates the flood insurance program, flooding occurs practically every day, practically everywhere. And it is costly, racking up $2.9 billion in losses between 2002 and 2011.
Read more at: http://www.chicagotribune.com/classified/realestate/buy/la-fi-lew-20130210,0,5806279.story
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