Flood Insurance

10/3/2022 (Permalink)

Our highly trained crews are ready to respond 24/7 to strom or flood damage emergencies. 712-262-4379

Flooding can happen anywhere, at any time. Unfortunately, many property owners do not find out until it’s too late that their policies do not cover flooding.  According to the National Flood Insurance Program, more than 20% of claims come from outside high-risk flood areas. When just one inch of water in a home can cost more than $25,000 in damage, flood insurance can be the difference between recovery and financial devastation. Without insurance, relief from floods primarily comes in the form of loans. If your community is declared a disaster area, no-interest or low-interest loans are often made available by the federal government as part of the recovery effort. However, these loans must be paid back, which means you’re still liable for the entire cost of your damages or losses.

• Flood damage is not covered by standard home insurance policies, so you may need to buy a separate flood insurance policy.
• Some mortgage lenders require flood insurance if you live in a flood-prone area.
• Flood insurance doesn’t kick in immediately when you sign up. That prevents you from buying a policy as a storm heads your way. There’s a 30-day waiting period in most cases.
• National Flood Insurance Program (NFIP) provides flood insurance policies, though you can also buy one from a private insurer as well.

In the aftermath of a disaster, the most important thing to take care of is the safety and well being of you and your family. Once the situation has stabilized a bit, it’s time to figure out the best way to move forward and get started on cleanup and rebuilding. SERVPRO of Spencer & Iowa Great Lakes specializes in the cleanup and restoration of residential and commercial property after a fire, smoke, or water damage event. We can access the resources and personnel of 2020 Franchises to handle major storms and disasters. We also have access to special Disaster Recovery Teams strategically located throughout the country to respond to catastrophic storms and events.