Your home has a greater chance of being damaged by a flood than a fire. It’s true, according to safety experts.

Unfortunately, your homeowners insurance policy won’t cover the damage to your home or property; only flood insurance will cover the losses.

We can help you secure flood insurance to protect your home or business. Flood coverage options are available to you through:

• Erie Insurance, which has partnered with American Bankers Insurance Company. American Bankers is one of the top flood carriers in the country. They have consistently received an excellent rating for financial strength from A.M. Best credit rating organization.
• The Federal Emergency Management Agency’s National Flood Insurance Program. The NFIP offers flood insurance to homeowners, renters and business owners.

It’s a good idea to start the process as soon as you can because most flood insurance policies have at least a 30-day waiting period before they take effect.

Premium costs for residential properties vary depending on coverage, which is available for your building, contents or both. Our agency can help you determine the flood risk level for your home and property and advise you on the appropriate level of insurance protection.

What’s covered?

All types of homes, including condos, are eligible for flood insurance. You can also purchase flood insurance to protect your contents if you rent your home.

But while most homeowners insurance is set up to get your home and belongings back to their pre-loss states, flood insurance is designed to simply get you back on your feet — it’s not as comprehensive as most homeowners policies.

Flood insurance doesn’t cover basement improvements like walls, floors or ceilings and personal belongings that are kept in the basement. It does typically cover washers and dryers, food freezers and the food inside. Water tanks, oil tanks, furnaces, stairways, unpainted drywall and sheet rock walls and ceilings are generally covered as well.

Major disasters

Federal disaster aid may become available in extreme cases. But before most forms of federal disaster assistance are offered, the President must declare the area a disaster. That declaration doesn’t happen often. According to the Insurance Information Institute, it occurs in less than 10 percent of all disasters. With flood insurance in place, a major disaster does not have to be declared for a claim to be paid.

More information

For more on flood prevention and the NFIP, visit fema.gov or call 1-800-Call-Flood (1-800-225-5356). To purchase flood insurance, contact us.