The Big Flood of 2009… Were you protected?

Were You Protected With Atlanta Flood Insurance For The Big Flood Of 2009?

If not… Will you be protected next time?

Did you know that the average flood claim runs about $33,000 … and that, my friend, is damage from only a few inches of water.

I wonder what the average claim will be here in Atlanta?   Insurance companies have been deluged with thousands of claims in the last few weeks right here in Georgia. Perhaps you personally know someone that has been impacted by the flood.

Well that raises a question then …. Should you invest in flood insurance?

Traditionally, in the past if you lived in a flood zone,  you were required to have insurance and if you didn’t live in a high risk area,  then you just didn’t bother with it.

So what about now, with all the damage that has occurred and may continue to occur with our already rain soaked city?

Listen closely to what Georgia Insurance Commissioner John Oxendine said in a recent AJC interview as he voices alot of concern regarding the flood damage that may not be covered by insurance, since standard homeowners policies do not cover floods.

“As the weather over the past few days has shown, purchasing flood insurance is an important consideration for Georgia consumers, even if you think a flood is unlikely in your area,” Oxendine said.   He goes on to say,  “Twenty-five percent of flood claims occur in areas considered medium or low-risk for floods.”

Things you  may not know about flood insurance:

  • First of all,  even though you may purchase a flood insurance policy from Lloyd Pro Group, your Georgia insurance company, it will be  backed by the US  Federal Government through the National Flood Insurance Program.
  • A “Standard” Flood insurance policy is available for your home to cover up to $250,000 of damage covering the basic home structure and damage cleanup.
  • Why do we say a “standard” policy? Because it only will cover your home structure.   If you want insurance to protect your personal belongings,  then you will need to make sure that your policy also protects your “contents”.   So be sure to  ask your Atlanta insurance agent if you will be covered for contents as well.
  • By the way, you can get up to $500,000 coverage to protect a non-residential building and its contents also.

Why You Can’t Put This Off Any Longer

Oxendine tells us about the the importance of planning ahead for a flood. Why would he do that?  Simply put, because there is a 30-day wait period on all flood insurance policies. That means if you get it today, you will not be protected untill next month.

How much does flood insurance cost?

That depends of course on whether you live in a high-risk flood area &  how much your home and its contents would cost to replace.   But I can tell you this, if you don’t live in a high-risk area, it’s not going to be nearly as expensive as you might think.

The good news is that Atlanta homeowners  in a $250k house will only need to invest about a dollar a day in return for $250,000 worth of protection. I wonder how many people are kicking themselves right now?

Renters can protect their belongings for as little as 15 cents a day. You can’t even get a pack of gum for 15 cents any more.

Now for a moment,  just think of all the thousands of people that wished they would have invested in flood insurance before…  instead of getting that extra can of coca-cola every day.

What will you do?

I’m sure you have a boatload of questions right now,  so why not pick up the phone and contact us at (770) 497-1200 right now or just request a GA insurance quote ?

Published in: on November 10, 2009 at 9:25 pm  Leave a Comment  

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