Flooding is the most common and costly natural disaster in the United States, affecting every region and state and causing millions of dollars in damage every year. In addition to heavy rainfall, flooding can be caused by dams or levees breaking, new development changing how water flows above and below ground, snowmelt and much more.
It’s extremely important to know that:
- Flood damage is not covered by a homeowner or rental policy.
- Not carrying a policy may leave you on the hook for tens of thousands of dollars in the event that your residence floods.
- New policies have a 30 day waiting period to go into effect.