Flood and earthquake insurance coverage is typically excluded under homeowner's policies but you need it even if you are not in a high-risk area. Did you know that 25% of all flood claims made under the government's flood program are made outside of high-risk areas, and that 33% of all homeowners that received federal disaster assistance for flooding are made outside of high-risk areas? What about earthquakes? Even if you don't live on a major fault-line you need coverage. Their are minor fault-lines all over the US that can cause major damage without morning. See, you need Flood and Earthquake insurance coverage no matter where you live. Unfortunately, you can't wait till it starts to rain or the earth starts to move before you get coverage because there are waiting periods before coverage can begin. So whether or not your bank or lien holder require you to purchase these coverage options, you should consider it today!
Just because flood and earthquake insurance coverage is commonly excluded, doesn't mean that you can't get coverage for them. You may have heard nightmares about getting coverage, or that its too expensive. At Gila we represent a private flood, landslide, and earthquake option through Lloyds of London. This coverage is available in most states, although no Earthquake coverage is available in California. While the government option is good, we feel this is better coverage at a price that works for most clients. There are many advantages to this program including:
- Compliant with State Insurance Laws
- Covers the increased cost of materials due to shortages in catastrophic event
- Covers additional expense
- Covers Debris Removal
- Replacement cost for contents is an option.
- Limits up to 5,000,000 (many flood programs are limited to $250,000 for residential properties)
- 15 Day waiting period
- Only one policy on multiple structures
Great Flood and Earthquake insurance coverage at a great price; its what we do! Start your quote now.