A basic home insurance policy will not cover damage caused by floods. Though we live in the hot, dry state of Arizona, flash floods happen more often than you might expect. With the hills and hard-packed soil found in the Phoenix Valley, flash floods are inevitable, especially during monsoon season. If a flood happens to make its way into your neighborhood, you will most likely have to cover the cost to repair the damage yourself.
National Flood Insurance Program
All flood insurance sold in the United States is ultimately backed by the National Flood Insurance Program. Many communities throughout Arizona participate in the National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA). While this program is backed and managed by the government, it is sold through insurance agents such as Vanyo Insurance Group.
Vanyo Insurance Group has experienced agents who can help answer your questions regarding flood insurance. If you live in certain flood-prone areas and have a mortgage from a federally regulated or insured lender, federal law and your mortgage provider likely require you to have flood insurance. If flood insurance is not mandatory for your situation, we can recommend whether or not it might still be a good idea. Once we’ve outlined the coverage for you and your family, we can help you to secure coverage through the National Flood Insurance Program (NFIP).
30-Day Waiting Period
It is important to note that if you are interested in flood insurance, you cannot wait until there is rain in the forecast to sign up. When you sign up for flood insurance, there is a 30-day waiting period before flood coverage takes effect.
Other Water-Related Losses
Though flood insurance covers flooding that causes damage to the structure of your home and your personal property, not all water damage is covered equally. For example, If a pipe bursts, the damage would not be covered by flood insurance. Another example would be if you experienced water or sewer backup. Again, this would not be covered by flood insurance. These are just two examples of water-related losses that can be covered by endorsement on your property insurance policy.
Contact Vanyo for a Flood Insurance Quote
Whether you own a single-family home or a condominium, Vanyo Insurance Group can help you financially protect your property. A free consultation with one of our agents could help you find the right flood insurance and other home insurance policies to suit your life situation. Contact Vanyo Insurance Group today to begin your no obligation insurance quote.