Hyde Park Insurance Services

Why do I need flood insurance if I don’t live in a flood zone?

It's a good idea to buy flood insurance even if you live in a low- or moderate-risk area. Almost 25 percent of all flood insurance claims come from areas with minimal flood risk.

A Preferred Risk Policy can insure your most valuable asset for pennies a day. Preferred Risk Policy rates are:

Building & Contents Coverage		Contents Only Coverage
Coverage	Annual Premium	Coverage	Annual Premium
$20,000/8,000	$112	$8,000	$61
30,000/12,000	138	12,000	86
50,000/20,000	180	20,000	116
75,000/30,000	207	30,000	131
100,000/40,000	233	40,000	146
125,000/50,000	249	50,000	156
150,000/60,000	264	60,000	166
200,000/80,000	296	80,000	181
250,000/100,000	317	100,000	196

What is considered a ‘flood’?

A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:

Overflow of inland or tidal waters; or
Unusual and rapid accumulation or runoff of surface waters from any source; or
Mudflow; or Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."

So, in plain English, a flood is an excess of water (or mud) on land that's normally dry.

Your Hyde Park Insurance Services Agent will be happy assist you in determining your risk for having your home damaged by flood. Call us today.