Should I buy flood insurance if I live in low risk area?

Summer is almost coming to an end. Have you thought about the cold days? The rain? Snow? and floods? Flooding events in Pismo Beach, CA, are not new and might be with us even in the future. When it comes to floods, sometimes it is not about where you live but how prepared you are if they were to happen today. That is why Neff & Associates Insurance Services Inc encourages residents to buy flood insurance. Here are our three main reasons.

Everyone lives in a flood zone.

The National Flood Insurance Program encourages residents to buy flood insurance early as floods know no boundaries. Even if you live in a low-risk area, the chances of your property getting destroyed by floods cannot be nullified. In extreme flood cases, even properties that are miles away from the flood area can be affected. The rate of destruction is also not measurable as the rule remains; the worse the floods, the more the damage.

Flood insurance is sometimes a requirement.

If you just bought your Pismo Beach, CA home in a high-risk flood area on the mortgage, the choice of buying or not buying flood insurance may not be there. Your lender will require you to purchase adequate flood insurance to protect their investment.

Floods are catastrophic

Let’s never underestimate how destructive floods can get.  These common and costly disasters can easily wipe your savings as they cause billions of dollars in destruction each year. The last thing you want is to watch your property being swept away by the aggressive water on cold winter weather.

Everyone needs flood insurance. Whether you are securing a residential or commercial property, flood insurance helps you save millions that you would have lost through water damage. Don’t wait till floods come knocking on your door to buy flood insurance. If you have any questions, our team of experts at Neff & Associates Insurance Services Inc will be happy to answer them. Get your flood insurance plan today!

How Does Condo Insurance Work?

Condo insurance is meant to serve as a form of protection against damage to your condo. It can also protect you from liability if a guest was to get injured while visiting your condo. Because you can never predict the future, it’s important to invest in protection, particularly when it comes to a housing structure of any type. Here at Neff & Associates Insurance Services Inc serving the Pismo Beach, CA area, we’d like to give you a refresher on condo insurance and how it works. Keep reading to learn now. 

Condo owners don’t own the building the condo is located in. They only own the condo itself, usually including all of the interior fixtures and appliances. For those who can qualify for an HOA policy on a condo, this is usually the best type of policy to get. However, it’s important to check the policy for two terms: all-in or bare walls.

With an all-in policy, this usually means the policy will cover all interior fixtures. A bare walls policy does not, and this is when condo insurance can be of the utmost value. Not only does a condo policy provide protection against damage to your condo but many also provide coverage if your belongings are stolen out of it. This proves extremely valuable if someone breaks into your condo or is a guest and steals from you. 

To learn more about condo insurance and how it works, make sure to reach out to one of our experienced agents here at Neff & Associates Insurance Services Inc serving the Pismo Beach, CA area. We can even assess your specific insurance needs to create a custom policy.