Cheap Flood Insurance In California

The winter snow-pack melts. The spring and fall rains move through the area. The remnants of a hurricane flow in from the sea. The El Nino winter arrives. These are just some of the factors that can lead to flooding in California. As you might already know, floods can cause tens of thousands of dollars in damage to homes and property. Flood insurance is available, but it’s an extra expense to your budget and can be expensive. So what is a California property owner to do? With a little bit of research and information, you can find cheap flood insurance in California!

First of all, it is important to understand why you should purchase flood insurance. Flood damage costs can easily soar to tens of thousands of dollars in costs, as even just an inch of water can lead to $10,000 in damages. Standard homeowners and business insurance policies may cover damages from flooding related to a burst water pipe, but they do not cover damages caused by water that enters the building from the outside. Also, government regulations often require that properties located in Special Flood Hazard Areas (an area that has a one-in-four chance of flooding at least once during a thirty-year period) must be covered by a flood insurance policy.

Once you have decided to purchase an insurance policy, it is important to do some “comparison shopping.” For many years, flood insurance was available only through a government program known as the National Flood Insurance Program (NFIP). Now, however, a second, private, option has emerged on the market. This program is known as the National Catastrophe Flood Insurance Program (NCIP). You can compare and contrast the type and amount of coverage that each program provides, as well as the premiums charged by each program to see what the best option for cheap flood insurance in California is.

A second way to “find” cheap flood insurance in California is to make modifications to your home or business. Certain changes in the way we build or in the locations we place expensive or water-sensitive items can affect premiums. For example, homes in low-lying areas may be elevated in some way that the first floor is above the flood plain. Additionally, air conditioning units can be elevated and large appliances can be located on the upper floors of a building. These are just some examples of how you can modify your home or business’ floor plans to reduce the likelihood that you experience flood damage, and in turn, reduce your flood insurance premium.

Flood damage is no joking matter. Not only can it displace your family or your business, it can financially ruin nearly anyone with the high costs of repairing that damage. But when you purchase a flood insurance policy, you are purchasing a plan that will protect you against these high costs by supplying any funds that might be needed to make repairs. Flood insurance can be expensive, but when you carefully research your options and make informed decisions, you too will find that you can obtain cheap flood insurance in California.

All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.

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