February 22, 2012

Flood / Earthquake

Flood is the most common and costly natural disaster in the United States annually. The U.S. Government estimates that over $2 billion in property damage is caused by flood every year. Whether you live in a coastal floodplain or on the highest ground, Felton, Berlin & Erdmann can help determine your risk of flood. If needed, we'll provide you with the most appropriate flood coverage options.

Quick Facts

  • Nearly 25% of all flood claims in the U.S. take place in areas considered to be of low to moderate flood potential.
  • According to U.S. Government statistics, there is a 26% chance of experiencing a flood during the life of a 30-year mortgage, compared to a 4% chance of experiencing a loss due to fire.
  • Only 14% of homeowners in the U.S. carry flood insurance
  • Floods and flash floods occur in all 50 states

Coverage Faetures

  • Coverage available for both Primary and Excess Flood Primary Flood available in flood zones B, C & X
  • Excess Flood Available in flood zones A & V
  • Coverage provided on an admitted basis
  • Coverage available up to the full replacement cost of the dwelling
  • Policy includes a broadened definition of flood
  • Coverage provided for basement property
  • Replacement Cost coverage for damaged property and possessions
  • No waiting period for policy issuance (depending on company)