Flood Insurance

Flood Insurance in Los Angeles offers excellent coverage that protects condo unit owners. You can rely on your Flood insurance in terms of personal property, liability protection, and additional living expenses.

Why Flood Insurance is Important As An Add-On For Your Homeowners’ Policy

Every homeowner in Los Angeles needs to have flood insurance for their homeowners’ policy. According to the Flood Factor, 93,786 homes in Los Angeles have a more significant than a 26% risk of getting flooded in the next 30 years. And this accounts for 12% of the city’s total real estate.

In addition to property damage, flooding can block off access to utilities, emergency services, and transportation, as well as influence an area’s general economic well-being. Overall, Los Angeles faces a significant danger of flooding over the next 30 years, which means flooding will significantly impact day-to-day life in the city.

Flooding can occur at any time and in any place. In reality, more than 20% of National Flood Insurance Program (NFIP) claims come from areas outside of high-risk flood zones, according to FEMA. That is why, even if you live in a low-to-moderate flood risk location, you should secure your house with flood insurance as an add-on for your homeowners’ policy.

According to the Federal Emergency Management Agency (FEMA), a flood is an event that happens because of a natural disaster. To be precise, a flood caused by a burst water pipe or other more regular incident is not under the coverage of the NFIP. Speak with an insurance professional to further understand what form of property insurance you’ll need to cover this type of claim. You’ll probably need earthquake insurance in place with your homeowners’ policy to fully protect you from the unexpected. Contact us today, and we can help you with all your queries. One of our experienced agents will help you right away.

Unfortunately, many property owners are unaware that their homeowners’ insurance does not cover floods until too late. Flood insurance isn’t just for people who live in high-risk flood zones. Flood insurance is required regardless of your flood risk because flooding can occur anywhere it rains. That’s why it is essential to have earthquake insurance for your homeowners’ policy.

What are the benefits of flood insurance? Flood insurance for your homeowners’ policy can cover both a home’s structure and its contents, with separate deductibles in most cases. Land, the building, plumbing, electrical systems, air conditioners, water heaters, built-in appliances, flooring, built-in cabinets and desks, and personal belongings such as clothing, furniture, electronics, gadgets, and food are all covered. Many policies limit how much they will payout and the amount of damage, but you may also buy additional plans. If you have anything significant, you might consider purchasing separate insurance coverage for it.

In the United States, flood insurance costs roughly $600 per year on average. Of course, this varies greatly depending on the state and flood zone where you live. There are a variety of flood zones ranging from low to moderate risk and high-risk zones. Premiums for contents and home insurance can start as low as a few hundred dollars per year. FEMA’s National Flood Insurance Program (NFIP) underwrites all flood insurance premiums, which the federal government then subsidizes. As a result, flood insurance is quite affordable.