Massachusetts and Rhode Island Flood Insurance

You love your home. You’ve spent years working towards it, and it represents all of your achievements. You have a great homeowners policy, but are you sure what it covers? What about the things it doesn’t cover?

Floods, the #1 natural disaster in the United States, are one exposure that a homeowners policy will not provide coverage for. Even if you aren’t in a flood zone, you are still at risk. In fact, over 20% of flood insurance claims come from people who live outside of the “high-risk flood areas”.

There are a number of reasons that floods happen. It could be as simple as an intense period of rainfall. Or perhaps there is a period of warm weather in early spring thawing out a large amount of snow. If the ground is still frozen, as it often is in Massachusetts and Rhode Island that time of year, the water cannot soak into the soil, and has no place to go.

The excess water often times ends up in our homes, our basements, and foundations. If we add a heavy spring rain to all of that snow melt, a common occurrence around here, we might have some serious flooding.

Lucky for you, personal flood insurance is available for all Massachusetts and Rhode Island homeowners, condo owners, and renters. If you don’t live in a flood zone, the coverage is actually very reasonable. For those in high-risk areas, the coverage is more costly, but also much more important. The cost also varies based on how much coverage is purchased, and the policy terms.

National Flood Insurance Program preferred risk policies offer building and contents coverage together and the premiums are very reasonable. For homes in high-risk areas, you must get a standard rated policy, and this is actually required by all federally regulated and insured mortgage lenders.

The factors that go into calculating your RI and MA flood insurance premiums are:

• The age of your home / dwelling
• Number of floors
• Location of contents
• Building occupancy
• Proximity to a flood zone
• Height / Location of the lowest floor
• The amount of building and contents coverage, and
• The deductible you choose

When it comes to purchasing flood insurance, the coverage is fairly complicated. For that reason, it makes sense to talk with one of the experts at Lapointe Insurance soon.

We want to help you protect all that is important to you, no matter what stands in the way. Give us a call, shoot us an email, stop by any one of our convenient locations, or fill out an MA and RI Flood Insurance form on our website.

Other Coverages to Consider