New Bedford Home Insurance: Flood Coverage in Massachusetts
Talking to your insurance company directly is the best approach to determine what is and is not covered by your New Bedford homeowners policy. Since every insurance provider and policy is different, it’s important to review your Massachusetts house insurance coverage in detail with your representative. There are numerous factors to think about while deciding on flood insurance. The nationwide economic cost of floods is estimated at $10 billion. Though states like Texas, Oklahoma, and Kansas rank high on the list of those severely struck by flooding damage, many other locations, including the East Coast and Southeastern states, also endure a lot of flooding due to storms and other types of extreme weather. But what if a water main breaks or the snow and ice quickly melts with heavy rainfall and causing flooding? If you own a home in New Bedford, contact your insurance agent to learn more about your flood coverage options and your duties as a homeowner in the event of a flood.
Understanding Flood Insurance for MA Homeowners
There is a strict definition of each word in the realm of house insurance. Water from any natural body, including the sea, a river, a lake, or a pond, is collectively referred to as a “flood.” That means that the insurance business is referring to something different when it talks about floods and the water pouring from your pipes or appliances inside your home. Wetness that comes from the surface of the earth is another name for the kind of water that can ruin your house. This includes groundwater and rainwater that hits the earth before seeping into your home’s foundation. Surface water flooding and the insurance definition of flooding are not covered by the typical Massachusetts homeowner’s policy. Those who are at danger of flooding can obtain a separate policy, aptly named flood insurance.
Many homeowner’s insurance policies in New Bedford provide coverage for water damage, but it’s still important to talk to your agent about the specifics of your policy. Damage from a leaking roof, a burst pipe, or an appliance that overflows is probably covered. Nonetheless, in New Bedford as with any other state, the policyholder has certain obligations that must be met before a claim may be paid by the insurer. If a roof leak causes severe damage inside your home, your insurer is unlikely to pay up if you haven’t maintained your roof and had it inspected and repaired as needed. That also applies to your home appliances. Your claim may not be honored if the overflow was caused by the neglect of their age, damage, or general state of disrepair. Talk to your home insurance agent to learn more about your policy’s coverage and your duties as a property owner.
New Bedford Home Insurance Quote and Coverage
Flooding and surface water flooding are not typically covered by regular homeowner’s insurance plans because they are so common and inflict such severe damage. If flooding was covered by a regular homes policy, the insurance industry would go bankrupt and be unable to pay other forms of losses due to the annual costs of more than $10 billion. However, the price of such coverage would skyrocket if it were included in conventional policies, making it unaffordable for many homes.
As soon as you find out that you are located in a flood zone, contact your New Bedford house insurance agent to discuss purchasing flood insurance. In most cases, a mortgage lender will insist on flood insurance if the property is in a designated Special Hazard Flood Zone. Contact Borden Insurance Agency and speak with one of our representatives about a flood insurance if you are unsure of the likelihood of flooding in your neighborhood. If you are looking for house insurance in New Bedford or the rest of the South Coast area, we can help. We can answer any questions you may have about your current policy, provide information and quotes for any extra coverage options, and more. Get in touch with one of our representatives or request a free New Bedford home insurance or flood insurance quotation by calling 508-999-3636 today. Or email at info@borden-insurance.com