If you live in a designated flood area, and have a mortgage, you are required by FEMA’s National Flood Insurance Program (NFIP) to have flood insurance. Until recently that coverage had to be purchased through NFIP. However recent changes have opened up the door for private insurance companies to start competing with NFIP. While these changes are still developing some mortgage companies are now accepting private flood insurance plans as well as the NFIP.
With competition come better pricing and better coverage options. If you are now required to have flood insurance, contact your lender to find out if they will accept flood insurance from a private insurance carrier.
No matter if you’re a first time home buyer, or just switching insurance companies there’s a lot to consider with your homeowner’s insurance. Your home is probably the largest purchase that you will ever make, so understanding your insurance policy is very important.
Having the right insurance policy for you and your habits is also important. Regardless if you live in an upscale neighborhood of Carmel, Indiana or in a quiet countryside of Northern Hamilton County, your homeowner’s insurance policy should be custom fit to your unique lifestyle.
Because there is so much to consider, please take 5 minutes to watch the video “Homeowners Insurance FAQ’s”, it could help you to make some important decisions when it comes to protecting your home, it’s content, and the people who live three.
If you have any questions or if you would like a free homeowner’s insurance review please call Bragg Insurance at 317-758-5828.
Does your homeowner’s insurance policy include comprehensive perils? Do you know what that means? Nearly every insurance policy has exclusions (perils that the policy excludes against). The exclusions can include earthquakes, flooding, and sump pump failure.
The short video below will help you with your understanding of what your homeowners insurance policy may or may not cover.
As always consult with your agent if you have specific questions about your homeowners insurance
Posted in Frozen Pipes, Hamilton County Insurance, Homeowners Exclusions, Homeowners Insurance, Identity Theft Protection, Replacement Value Insurance, Uncategorized
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