Benefits of Flood Insurance with Keystone Insurance Agency, LLC
If you are looking to purchase flood insurance around Columbus, OH, you will learn that there are two main types to acquire. You can purchase flood insurance through the National Flood Insurance Program or a private flood insurer. There are many benefits that buying a private policy has over purchasing NFIP insurance.
Here are a few of those benefits:
The biggest benefit to purchasing a private flood insurance policy is the value of the policy. When you buy NFIP insurance, the maximum value of the coverage is capped at an amount that may be lower than the value of your home. If your home is above the cap amount of NFIP insurance, you will want to purchase through a private insurer.
What is Covered
Another benefit to private flood insurance is that it may cover items that NFIP insurance doesn’t cover. Flooding can cause your furniture to become unusable or causes mold to develop in your home, both of which are things that NFIP insurance won’t pay for or cover. Most private insurers will cover the costs.
The Waiting Period
The last benefit to private flood insurance is that you may not have a waiting period, depending on the insurer. If you have just purchased a new home, this gives you peace of mind that your home is covered from day one. There is always a 30 day waiting period when you buy NFIP insurance, meaning that your home can be without flood insurance during this time. This wait could be scary if you purchased a home during hurricane or flood season.
Contact Keystone Insurance Agency, LLC in Groveport, OH
As you look to purchase private flood insurance, turn to Keystone Insurance Agency, LLC, serving the greater Columbus, OH area. We can help you find fantastic private flood insurance for your needs. Contact us now to get started.