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Flood Insurance in Ohio
What Is Flood Insurance?
Flood insurance in Ohio is insurance to cover flood damage. Since floods are not covered under a homeowner’s insurance policy, this coverage is typically sold as a separate policy, which you can get through the National Flood Program (NFIP) or insurance agents. The NFIP says flooding is a temporary condition where the surface of the land that is normally dry is either completely covered or partially covered with water. Two or more acres, or two properties, must be affected for the situation to be considered a flood. Flooding can be caused by an overflow of either tidal or inland waters, the rapid accumulation of runoff, mudslides, or water currents that exceed normal levels.
Why Should You Have Flood Insurance?
Floods in Ohio are costly natural disasters that are not covered by a normal homeowner’s policy. If you live in a high-risk flood area and have a mortgage on your home, you may be required to purchase flood insurance. Even when not in a high-risk flood area, there is still a chance for flooding. About 20% of flood claims come from properties that aren’t considered to be in high-risk zones. Just an inch of water in the home can cause $25,000 worth of damage, so without flood insurance, you could be in financial trouble. There are options for other disaster aid after a flood, but a small business loan will need to be paid back with interest, and a FEMA disaster grant usually does not cover enough to make the necessary repairs to the home. These other options may not be available unless there is a disaster declaration, while insurance will pay regardless.
Can You Get Flood Insurance?
An agent at Smucker Insurance Agency, Inc. can help you determine if your community qualifies for flood insurance and can help you get coverage. You can purchase flood insurance at any time, even during a flood, but the policy will not kick in for 30 days. Flood insurance is available for homes, condos, apartments, and non-residential buildings in Plain City, OH and around the state.
Contact Smucker Insurance Agency, Inc. serving Plain City, OH, to get a quote on flood insurance.