How Important Is Flood Insurance?

How Important Is Flood Insurance?

In Princeton, insurance for your car, boat, or apartment is one of the first things you need to have. Flood insurance should also be an important consideration whether you own a house, a business, or both.

Dangerous and Expensive

Floods are the number one natural disaster in America. They have caused billions of dollars worth of damage in the last few years. From October of 2013 to September of 2014, the United States of American incurred almost 3 billion dollars worth of damage due to flooding and 55 people lost their lives. In August of 2014, Detroit suffered $1.8 billion in damage to homes and businesses from flooding during just one day. Floods and flash flooding can occur almost anywhere, and even one inch of water can cause considerable damage to your property. Recovering from that kind of devastation can take a long time, but when you’re insured, the recovery can be a little less difficult on you and your family.

Coverage for Recovery

A flood insurance policy can cover your personal property as well as your home or business. This depends on where the structure is and its value. Another advantage to flood coverage is that certain policies allow for living expenses while you wait for your property to be repaired or rebuilt. A Princeton insurance flood policy might even cover a rental home for you so that you may continue normal living activities.