After Hurricane Sandy tore up the east coast and wreaked havoc upon New Jersey, Pennsylvania and New York. Many east coast residents are now reconsidering purchasing flood insurance. All of a sudden, citizens living outside the flood zones found themselves taking on water and boarding up their homes in the wake of Hurricane Sandy. The damage caused by this storm was like nothing ever seen before in the tri-state area.
Here is a look at why so many East Coast citizens are reconsidering their decision on flood insurance
Billions in Damage
Hurricane Sandy caused over $50 billion in destruction across the East Coast, with the worst of the damage occurring in New York and New Jersey. From flooded basements and destroyed foundations, to buildings that were completely demolished, many Americans had to rely heavily on their home owner's insurance, which most times, does not cover damages caused by floods. Flooding in New Jersey and New York was severe, even historical. Those fortunate enough to have enrolled in flood insurance prior to Hurricane Sandy saved themselves considerable money.
While flood policies can change depending upon where you live, many households can purchase flood insurance for approximately $700-$800 per year. When facing the cost of having to repair or rebuild a home from the ground up, this cost is extraordinarily cheaper than paying for the renovations and repairs out of pocket. This is especially important to consider in the event of a storm that was as devastating at Hurricane Sandy, as your home will not be the only home in need of repair and costs could be driven up.
Better Safe Than Sorry
While flood insurance doesn't cover all the damages caused by hurricanes, it will certainly help to offset the repair costs. In the United States, there are around 5.7 million active flood insurance policies that are covering over 1.27 trillion dollars of annual property damage. Statistics like this make the case for obtaining flood coverage an easy decision for any homeowner looking to protect their primary investment. Don't be one of the unfortunate people who are left unprotected when the next super storm surges into your area.
The Bottom Line
The Bottom Line is simply this, if you live in or near a flood zone then flood insurance is going to be a necessity. If you do not live in a flood zone but do live near a river, lake, or other body of water, it is a wise decision to look into purchasing and maintaining a flood insurance policy. While the premium is an added cost, the amount that your flood insurance policy can save you after a catastrophic event can outweigh the cost.
Direct Flood Insurance Agency LLC offers Louisiana, Georgia, Mississippi, Alabama, Arkansas, Florida, Texas, Missouri, Illinois, Iowa, Tennessee, Kentucky, and New Jersey flood insurance. The Direct Flood Insurance’s website allows you to get an instant quote and buy that quoted policy in real time, all from the website. Just fill out a flood insurance quote and quickly get set up with flood insurance to protect your home and business.