Flood Insurance and Back Up of Sewer and Drain Coverage
Flood insurance? Why are we talking about flood insurance when it looks like we’re going to receive snow again today? Well, for good reasons. The biggest reason behind thinking about things like flood insurance and back up of sewer and drains coverage now, when the snow is still here, and not in the spring/summer time when floods might actually happen, is because, just like everything else here at The Insurance Specialists Team, we want our clients to be prepared before something happens, and not having to ask the question, “how could this have happened” instead.
We generally advice our agents to include back up of sewer and drains coverage endorsement as this coverage is not usually included in basic coverages. Flood insurance isn’t available on home insurance or renters policies. A flood insurance policy will be required.
Flood insurance likely isn’t a policy most homeowners think about – unless they are in flood prone areas like Fargo and along rivers and streams, especially this time of year, but let me tell you why this is exactly the time you should be thinking about it. All of the snow around this year is bound to start melting, and that means the rivers around here in Minnesota and Wisconsin are going to experience increased water levels and threats of flooding. Now you’re probably saying, ‘yea, but that happens in the spring time,’ and you’re right. But what you may not know is that standard flood insurance policies can take almost a full month waiting period to start. Most insurers will not allow back up of sewer and drain coverage endorsements during flood season.
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So what’s that mean? Well if you neglect to have flood insurance, and your home becomes flooded this spring, then the damage will not be covered by your homeowners insurance policy. Or say you wait until the calendar flips to spring and then decide the time is right to get a flood policy… remember that 30 day cushion? Yep, even though you got the ball rolling doesn’t mean that you could experience flooding prior to your policy kicking in.
Need more convincing? Consider this: Floods are the number one natural disaster in the U.S., and flooding isn’t covered by home, condo or renter’s insurance. Back up of sewers and drains can be a mess and if your basements or lower levels are finished – expensive. The frost line is much lower this year and is causing some issues already. If you’d like to up your back up of sewer and drain coverage or discuss flood insurance – call and speak to one of us at the IST.