Flood Insurance in Ohio
We don't often think of flood insurance in Ohio as floods are relatively rare, but when they happen they are very destructive. According to FEMA, one inch of water in your house could cause $27,000 in damage. The Chris Arnott Agency Inc in East Liverpool, OH is here to help you have all the insurance you need. Of course, you need homeowner’s insurance, but that does not include flood coverage.
Flood insurance comes from a federal government program called the National Flood Insurance Program. While it is a federal program you must buy this insurance from an insurance agency participating in the program.
Flood insurance is required for homes where the financing is Federally regulated or guaranteed. Some lenders also require this type of insurance as you pay off your mortgage. It can be an addition to your homeowner's policy.
It is good to know if you are in a flood plain or an area that has a high risk of flooding. That could affect your rates as you shop for flood insurance. Even so, FEMA estimates 20 percent of flooding happens outside high-risk areas. If you live near a river or lake, flood insurance would be a good idea for instance. When you get insurance through the federal program, realize there are separate policies for the building and for the contents, but your local insurance agency can help you with both.
What communities have done to prevent flooding can help lower your flood insurance costs. The costs are set by the government based on several criteria. Things like whether it is in a high-risk area, the year of construction, number of floors and building occupancy are a few of the criteria that are used. In Ohio, floods are still rare, but they are happening more often.
Stop by or all the Chris Arnott Agency Inc in East Liverpool, OH to learn more about flood insurance for Ohio, Pennsylvania, West Virginia and Georgia. We can help you find the coverage you need for your home.