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Prepare Yourself for an “Active” Hurricane Season: Get Flood Insurance Now The 2010 hurricane season is officially upon us. Experts at the National Oceanic and Atmospheric Administration have predicted an “active to extremely active season” including 14-23 named storms, 8-14 hurricanes and 3-7 major hurricanes. Along with the lessons we learned from Hurricanes Ike and Katrina, a forecast like this is even more reason to make sure you’re prepared for the worst with flood insurance. Contrary to popular belief, homeowners insurance does not cover flood damage. So don’t assume that your homeowners insurance will bail you out if a hurricane hits. It won’t, and you’ll be left to pay for the damages out of your own pocket. Another common mistake: assuming that you’re too far from high-risk areas to need flood insurance. According to floodsmart.gov, nearly 25% of flood insurance claims come from low- to moderate-risk areas. Even if you think your area will never flood, it’s better to be safe than sorry. Many people are also misinformed about the price of flood insurance. For TDECU members who live in low- to moderate-risk areas, flood insurance is available starting at $119 per year. That’s substantially less than the $10,000, $50,000 or even $100,000 in repair bills you could incur without flood insurance. And finally, don’t assume that your coverage begins the day you sign up for it. There is a standard 30-day waiting period for your flood policy to go into effect. So purchase your coverage now, instead of waiting any longer as this year’s hurricane season progresses. For a no-obligation quote, call one of our licensed insurance representatives at 888-833-7358 or complete our online form today! |
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