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The peace of mind you need to be protected against the unforeseen natural events.
Flood insurance is a stand-alone policy designed to protect property owners against financial losses resulting from flood-related damages. Unlike standard Homeowners or Renters Insurance policies, which typically exclude flood damage, Flood Insurance provides specific coverage for losses caused by flooding, including inundation from overflowing rivers, storm surges, heavy rainfall, or snowmelt.
Flood Insurance standard coverage includes the following protection for flood-related damages:
Protects the main structure of your home, including its foundation, walls, floors, and built-in appliances.
Safeguards for your belongings, such as furniture, electronics, clothing, and other items.
Helps to cover living expenses such as temporary housing, meals, and transportation if your home becomes uninhabitable due to flood damage.
Several factors can affect the value of a Flood Insurance policy. Let’s review the most common ones:
Properties located in high-risk flood zones generally face higher premiums due to the increased likelihood of flooding and the potential for more extensive damage.
Your home’s location, your zip code, and the vibe of the neighborhood can all contribute to the cost of your Flood Insurance price.
Older homes or homes in poor condition may have higher premiums due to their greater vulnerability to flood-related damage and higher repair or replacement costs.
Certain construction materials and methods may be more resilient to flood damage, potentially resulting in lower premiums, while more flood-prone materials or construction styles could lead to higher insurance costs due to increased risk.
Larger homes typically have more valuable structural components, potentially leading to higher premiums to adequately cover the increased risk and potential losses associated with flood damage.
At PSIC, we trust Palomar to manage our policyholders’ flood policies. Their program is broader than the one offered by the National Flood Insurance Program, and they have a straightforward contracting process that helps reduce time and costs.
Learn about insurance coverage, safety tips, money-saving options, do’s & don’ts, news, and much more in the resources section.
Flood Insurance was not the product you were looking for? Are you still looking for another type of coverage? Discover all the insurance options that Pacific Specialty can offer you!
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5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807
Copyright © 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. 17486061 The insurance policy, not the contents of this website, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed on this website. Coverage may differ by state.
