Why should I buy flood insurance?
No matter where you live, you should purchase flood insurance for two main reasons:
- Floods happen nationwide, not just in coastal areas.
- Standard homeowners insurance does not cover flood damage.
You might be surprised to learn that about 20 percent of flood insurance claims come from moderate- to low-risk areas. Although you may not be required to purchase flood insurance by law or by your mortgage company, the benefits of having extra coverage for your family home far outweigh the risks. As a provider of the National Flood Insurance Program (NFIP), ASI can help you feel secure against water damage, no matter how unlikely it may seem.
What does flood insurance cover?
Through the NFIP and a policy serviced through ASI, you could be covered for up to $250,000 for your home’s structure, and up to $100,000 for contents inside your home. In coordination with insurers like ASI, the Federal Emergency Management Agency (FEMA) hopes to reduce the social and economic impact of floods by providing flood insurance for property owners at affordable rates.
To learn more about flood coverage, flood maps and flood risk facts, visit FloodSmart.gov.
How is a flood endorsement different from flood insurance?
For Florida residents, ASI also provides flood coverage through endorsements. As you may know, any kind of endorsement is a document in a policy that adds or changes coverage.
Although not all insurance carriers offer both homeowners insurance and flood insurance, ASI does. This provides policyholders in Florida the option to add a flood endorsement to an existing policy, for an additional cost to the policy’s premium.
One of the benefits of adding a flood endorsement to your homeowners insurance policy is the streamlining of the claims process. With both a standard homeowners insurance policy and a flood endorsement, serviced under one carrier, the entire process for a flood claim can be taken care of by ASI.
When push comes to shove, you know you need an insurance carrier that can withstand the toughest of catastrophes and claims. In the aftermath of the 2004 and 2005 hurricanes, ASI successfully proved that it is a financially stable insurance provider of top-notch customer service and coverage. Between our ever-growing policyholder confidence, our trusted reputation and our outperformance of the competition, it’s no surprise that investors and agency partners see us as an industry leader.