Surprise! Your assumed definition of a flood or water damage and your insurance company's definition of a flood or water damage may be different. Discovering the differences the hard way might RUIN either your home or your business beyond recovery, which is why you need to call Butch Tilley today!
Let’s face it — it’s not hard to imagine a scenario wherein pounding spring rains might soak through your home's roof, and damage the walls and floors below.
And how about that convenient strip center on Route 40 where you located your business — near the Little Gunpowder River? You might return one Monday morning to find that water poured over the bridge, accumulated in the parking lot and seeped under your office door to create a flood inside.
You have standard flood insurance on your home, and standard damage insurance for your business, so you think all is well. But, after a claims adjuster looks at it all, he will say that your home flood insurance will NOT cover your home because that water damage occurred before any flooding, and your DAMAGE insurance will NOT cover your business because the office ceiling or plumbing didn’t leak -- it was a flood from outside!
Many homeowners and business owners don’t realize that flood insurance and water damage insurance are two different things, and so your claim won’t be covered if your particular type of insurance doesn’t cover your property damage. For instance, under the vast majority of homeowner’s insurance policies, flood damage is not considered a form of water damage. Since standard homeowners insurance doesn’t cover flooding associated with hurricanes, storms and heavy rains, it’s important to have protection from the floods that often accompany these types of disasters and to understand how your insurance company defines a “flood.”
That’s why you should sit down with Butch Tilley at York Insurance Services for a no-cost evaluation. Butch will explain the National Flood Insurance Program definitions, how Water Damage works, and make sure both your home and your business are completely covered.
And do it now — don’t wait to purchase flood insurance until the weather forecaster predicts historic rainfall or possible flooding—most flood insurance policies require a 30-day wait period before the policy takes effect! By the time you’re standing knee-deep in water inside your home or office, it’s too late.