Wisconsin is no stranger to flooding, especially considering how many rivers and streams flow through the state. In 2016, the governor declared a state of emergency for multiple counties after storms caused detrimental flooding in the state. Of course, that’s not the first time it has happened, and it likely will not be the last. There were eight incidents of flooding between 2001 and 2011 alone that led to federal disaster declarations. Here in Mayville, our place along the Rock River puts many residents at risk of flooding. Having the right flood insurance could mean the difference between restoring a flood-damaged home and its contents, or losing it all.
How Much Could You Lose in a Flood?
While major floods that cover rooftops may be rare, it does not take much water at all to cost you tens of thousands of dollars in damages. For just two inches of water in a standard 2,000 square foot home, the damage and remediation costs could easily total $21,000. Increase the flooding to six inches, and the bill rises to an astounding $39,000. If it reaches one to four feet, expect to spend between $50,000 and $75,000 to restore your losses.
Flood Insurance Coverage Types
A flood insurance policy has everything you need to regain your life after waters ravage your home. Flood insurance policies are typically broken into two types of coverage:
Damage to Your Property
This includes protection for the home’s structure and the things attached to it, including the walls, electrical systems, plumbing, and foundation. Your policy will help pay for clean-up, remediation, debris removal, and the reconstruction of your property.
Damage to Your Belongings
A flood can destroy many of your belongings, and replacing them can be very expensive. Contents coverage helps pay for the replacement of things like rugs, furniture, window treatments, appliances, electronics, clothes, and more.
Don’t Let Flooding Catch You by Surprise
Many homeowners do not know that typically home insurance policies do not cover groundwater flooding. Some may simply think that they are safe from flood risk since the house they live in has never flooded before. Unfortunately, many homeowners are caught by surprise when a flash-flood causes waters to rise even outside a declared floodplain. For those living in known flood zones, mortgage lenders may require flood insurance coverage. For those living outside flood zones or who do not have a mortgage, the coverage may be optional. However, we believe flood insurance is important for all homeowners since flooding can happen anywhere. All it takes is one big flood to destroy much of what you have worked so hard to build.
The potential fallout from flooding is so monstrous, and private insurance companies are unable to provide adequate protection. That is why we here at Mayville Insurance help property owners find flood insurance through the National Flood Insurance Program. Though this coverage is provided by the federal government, it is only available for purchase from a qualified insurance provider like Mayville Insurance. Our agents can help you select the coverage amount you need and answer any questions you may have about your policy.
Don’t wait until it is too late to get flood protection for your property. It takes 30 days for flood insurance to become effective, so there is no better time than now to get coverage. For more information about flood insurance or to request your free quote, contact our office today.