If you're a homeowner, you should want to protect your property as much as possible. This is one of the reasons why flood insurance matters, and to say that it offers security would be an understatement. Robert Jain, as well as other names in finance, will tell you that this can provide peace of mind and protection alike for homeowners. Here is why flood insurance matters and, more importantly, why it should be invested in.
One of the most common misconceptions about flood insurance, according to the likes of Bob Jain, is that it is already included in a standard homeowner's insurance plan. This isn't the case, though, as it must be purchased separately. In fact, you may want to discuss your insurance with your agent in detail so that you know what exactly is covered. With this information, you will have a better understanding of what else must be purchased.
The way that most people buy flood insurance is through the NFIP, the National Flood Insurance Program. The NFIP offers two types of plans - one that covers homes and one that covers personal property - and it's possible to buy both if you're interested. Flood insurance covers many elements of your home that homeowner's insurance doesn't. Detached garages, water heaters, and permanently installed fixtures like bookshelves and cabinets are just a few elements that will be covered if a flood were to occur.
Everyone's definition of a "flood" is different, it seems, so what does it entail in terms of flood insurance? First, a flood is described as a situation where two or more acres of land that's normally dry becomes saturated, either by water or mud. Furthermore, it can occur as a result of another weather condition like a hurricane, which is known to create flooding waters. This is another topic worth bringing up with your agent for additional insight.
To say that flood insurance is important is an understatement, especially with the information covered here. If you think that making this investment is a lengthy process, you may be surprised by how easy it is. In fact, the only lengthy process is the amount of time needed for the insurance to kick in, as it requires about 30 days or so for processing. Make sure that you invest early so that your property can benefit from the utmost protection sooner.
One of the most common misconceptions about flood insurance, according to the likes of Bob Jain, is that it is already included in a standard homeowner's insurance plan. This isn't the case, though, as it must be purchased separately. In fact, you may want to discuss your insurance with your agent in detail so that you know what exactly is covered. With this information, you will have a better understanding of what else must be purchased.
The way that most people buy flood insurance is through the NFIP, the National Flood Insurance Program. The NFIP offers two types of plans - one that covers homes and one that covers personal property - and it's possible to buy both if you're interested. Flood insurance covers many elements of your home that homeowner's insurance doesn't. Detached garages, water heaters, and permanently installed fixtures like bookshelves and cabinets are just a few elements that will be covered if a flood were to occur.
Everyone's definition of a "flood" is different, it seems, so what does it entail in terms of flood insurance? First, a flood is described as a situation where two or more acres of land that's normally dry becomes saturated, either by water or mud. Furthermore, it can occur as a result of another weather condition like a hurricane, which is known to create flooding waters. This is another topic worth bringing up with your agent for additional insight.
To say that flood insurance is important is an understatement, especially with the information covered here. If you think that making this investment is a lengthy process, you may be surprised by how easy it is. In fact, the only lengthy process is the amount of time needed for the insurance to kick in, as it requires about 30 days or so for processing. Make sure that you invest early so that your property can benefit from the utmost protection sooner.
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To discover more regarding insurance, in general, consult Bobby Jain today.. Unique version for reprint here: Robert Jain: Why Flood Insurance Matters To Homeowners.
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