comprehensive flood insurance solutions
At HAML Insurance Brokerage, we understand that flooding can be one of the most devastating natural disasters, and most standard homeowners or business insurance policies do not cover flood damage. That’s why we offer comprehensive flood insurance solutions designed to protect your property from the financial impact of floods.
Why You Need Flood Insurance
Floods can happen anywhere, not just in high-risk flood zones. Even an inch of water can cause significant and costly damage to your home or business. Whether you live near the coast, along a river, or in an area prone to heavy rain, flood insurance provides the security you need.
Common Misconceptions
Disaster assistance is minimal and often insufficient for full flood recovery. These funds are only available when the president declares a disaster. Also, disaster assistance typically comes in the form of a U.S. Small Business Administration loan that averages $5,000 per household and must be repaid with interest, or as a FEMA disaster grant through the Individuals and Households Program (IHP). IHP assistance does not compensate for all losses caused by a disaster and only meets your basic needs to supplement disaster recovery efforts. By comparison, the average NFIP claim payment from 2016 to 2022 was about $66,000.
Your risk may be reduced, but it’s not eliminated. If your community’s stormwater drainage system clogs or fails, flooding from heavy rain or melting snow could cause damage to your home and belongings. Purchasing a flood insurance policy today can protect your home from unexpected or hidden flood risks.
Conditions change. What happened in the past is not a guarantee of what will happen in the future.
Nearby construction can alter drainage patterns and rainfall can exceed yearly averages. In addition, nearby community stormwater drains can become overwhelmed and back up during heavy rains, causing flooding in your neighborhood.
Unfortunately, most homeowners, commercial property and renters policies don’t cover damage due to flooding. A flood insurance policy can fill gaps in your coverage. The NFIP encourages everyone to purchase both building and contents coverage for the broadest protection.