When floods strike, they result in property damage and even loss of lives. And woe unto you if you don’t have flood insurance for your home. Why? While you may have home insurance, it doesn’t protect you against floods. And if the federal state doesn’t declare that the floods in your area as a national disaster, you will have to finance repairs to your home from your pocket.<\/p>\n
Understanding flood insurance can be frustrating if you are not familiar with this coverage. With this in mind, Jim Boyce Insurance of Matthews, NC wants to dissect flood insurance to its basics for you to understand it in detail.<\/p>\n
What is flood insurance? <\/strong><\/p>\n If your home is damaged from water accumulation from the inside (perhaps due to faulty pipes), this is considered unexpected, and your typical homeowner’s insurance should pay for the damages. However, flooding from the outside is considered common, and in such instances, you need stand-alone flood insurance coverage to cover your damages. <\/p>\n What does flood insurance cover?<\/strong><\/p>\n Your flood insurance has two types of coverages, namely: dwelling coverage and contents coverage. The dwelling coverage protects your building structure, including the foundation, electrical and plumbing system, air conditioning system, cabinets, and other fixed appliances. If you get coverage from the National Flood Insurance Program (NFIP), your home is protected up to $250,000, but you can increase the limit at an additional premium.<\/p>\n The contents coverage protects your assets, including clothing, furniture, electronics, curtains, portable appliances, and other assets. The maximum coverage limit is $100,000.<\/p>\n Is flood insurance mandatory?<\/strong><\/p>\n No law in North Carolina requires homeowners to purchase flood insurance. However, you may need flood insurance if a mortgage finances your house. <\/p>\n Buy flood insurance today!<\/strong><\/p>\n Because every home is at risk of flooding, you need to protect your home with flood insurance? If you are in Matthews, NC, and its environs, please talk to Jim Boyce Insurance for an affordable flood insurance quote. <\/p>\n","protected":false},"excerpt":{"rendered":" When floods strike, they result in property damage and even loss of lives. And woe unto you if you don’t have flood insurance for your home. Why? While you may have home insurance, it doesn’t protect you against floods. And if the federal state doesn’t declare that the floods in your area as a national […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5,11],"class_list":["post-148","post","type-post","status-publish","format-standard","hentry","category-insurance","tag-jim-boyce-insurance","tag-matthews-nc"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n