Floods: An Expensive Disaster

Nearly a third of homeowners believe their homeowners or renters insurance includes coverage for damage caused by flooding. Unfortunately, most policies do not offer any protections. Flood insurance is entirely separate from a home policy. But do you really need it?

Consider this: there are more disasters involving flooding than any other type of disaster, including fires. Flooding is not limited to a river overflowing its banks or the sea breaching the sea wall. It can be caused by heavy rainfall or a burst water pipe. The water could destroy your valuable contents and severely damage the structure of the family home.

The Federal Emergency Management Agency (FEMA) has designated certain areas of Baton Rouge and the greater Louisiana area as a Special Flood Hazard Area (SFHA). Homeowners in SFHAs are required to purchase flood insurance. This is because a home in the region has a 26 percent chance of being flooded over the course of 30 years.

Even if you don’t live in a SFHA, you are still at risk: nearly 20 percent of flood claims are from families living in low or moderate risk areas.

What Does Louisiana flood insurance Cover?

If you are a homeowner you will require coverage for both the buildings and contents, but if you are a renter you will just need coverage for your personal belongings.

Flood insurance covers a variety of things: the structure, including the building, foundations, plumbing, carpeting, detached garage, electrics; appliances, including air conditioning, refrigerators, built-in appliances; and personal belongings, including clothes, furniture, and electronics. For high-value items, such as artwork, collectibles and expensive electronics, you will need to consider special additions, called riders, to your flood insurance plan.

Randy, Bryan and David Lanoix are independent insurance agents covering Baton Rouge, Louisiana. They will be happy to advise you on the most suitable flood insurance to meet your requirements. They will also be able to obtain quotes on your behalf from an extensive selection of insurance companies.

Don’t take a gamble on your home and possessions. Contact Lanoix Agency to protect your finances from a flooding disaster.