Flood Insurance in High Risk Areas

Floods and flash floods are considered the most expensive and common disasters across the United States. Damages caused by floods can be extremely costly in terms of repairs or replacements. Therefore, a flood insurance policy from Neff & Associates Insurance Services Inc. will come in handy when floods strike your home. Moreover,  your homeowner’s insurance doesn’t cover floods in Pismo Beach, CA.

Understanding high-risk flood area

As stated by the Federal Emergency Management Agency (FEMA), all flood regions across the U.S are classified as low, moderate, or high-risk flood zones. FEMA makes the determination as for whether an area is a high-risk flood zone based on geographical and historical factors of a given area. Some of the vital considerations include nearby bodies of water, previous causes of floods, the presence of mountains or hills, and the local drainage systems.

In other words, a high-risk flood zone is an area that has been marked by FEMA to be susceptible to flooding. That is why homeowners in Pismo Beach, CA with a mortgage should have flood insurance from Neff & Associates Insurance Services Inc. This is one way of cautioning lenders or banks from disaster whenever flooding occurs.

This is also important for people who are renting homes in high-risk areas as their landlords may require them to have additional protection for their units. Remember, when renting, your landlord’s flood insurance policy doesn’t cover your personal belongings. Therefore, you have a duty to protect yourself financially and ensure all your items are fully protected in case of floods, by purchasing a flood insurance policy.

Floods occur all the time and no homeowner can be immune from such disasters. Moreover, storms and hurricanes have shown very unpredictable patterns in the recent past. Do you want to protect your valuable assets and personal belongings against floods? Contact us at Neff & Associates Insurance Services Inc., for more information on how to stay protected by purchasing sufficient flood insurance.

 

What Are The Differences Between Condo and Home Insurance?

Every responsible property owner should understand what exactly their insurance policy covers. If you’re a homeowner, you need to consider not only your home but also your land and any other structures on your land, such as pools and sheds. If you’re a condo owner in Pismo Beach, CA, determining what needs to insure might seem more simple, but you still need to make sure there aren’t any gaps in your coverage. Neff & Associates Insurance Services Inc offers the home as well as condo insurance and we are here to help you navigate your insurance needs.

The biggest difference between condo insurance and home insurance is what part of the property the policy needs to cover. When you own a home, your insurance policy covers your entire structure and any surrounding land that you own. When you own a condo, however, your insurance only needs to cover the portion of the building that you actually own. There may also be special requirements for condo insurance set by the condo association where you live, whereas this is not the case with homeowners insurance. It’s important that you check with your condo association to determine what coverage you need.

Determining what coverage is required for your particular situation based on your condo and your condo association can be confusing. Condo owners in Pismo Beach, CA should talk to an insurance agent to help them understand what coverage they need so they’re not left with gaps and inadequate insurance. Before disaster strikes, talk to an experienced insurance agent at Neff & Associates Insurance Services Inc so you can have peace of mind knowing you and your property are fully insured.