What Businesses and Homeowners Should Know About Flood Protection
Homeowners and businesses often overlook that standard insurance excludes flood protection. Lori Callahan from B.F. Saul Insurance advises proactive measures and policies. Many claims originate from low-risk zones, highlighting the need for comprehensive flood insurance.
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Key takeaways
Standard homeowner's insurance usually excludes flood protection.
Proactive flood policy acquisition and property protection are crucial.
Adaptive measures like drainage correction can prevent damage.
Many homeowners don’t realize that standard homeowner’s insurance excludes flood protection. That’s a risk worth correcting fast. Lori Callahan, Assistant VP and Account Executive for Personal Lines at B.F. Saul Insurance, stresses the importance of proactive flood coverage. “About 40% of flood insurance claims come from outside high-risk zones,” she explains. Because of that, her agency recommends that every homeowner, regardless of their zone, consider purchasing flood insurance.
Beyond securing the right policy, Callahan emphasizes preventative steps to safeguard your property. Walk your yard after rain and watch for puddling or standing water. If you find drainage issues, installing French drains or extra piping can redirect water away from your home’s foundation. Regularly cleaning gutters, sealing cracks in the foundation or basement walls, and adding a sump pump with battery backup are simple yet effective defenses against flood damage.
It’s also crucial to plan in advance. Flood protection isn’t a snap decision just before a storm. NFIP policies require a 30-day waiting period, while private policies typically take 7 to 10 days to activate. Standard coverage offers $250,000 for building structure and $100,000 for contents. If you own a higher-value property, enhancing coverage through private insurers can give you access to more protection, including coverage for finished basements and valuable belongings.
Lori Callahan’s advice is clear: prepare today for peace of mind tomorrow and ensure your home is protected from rising water before it’s too late.
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