Starting Jan 1 2020 these plans will no longer be available. If you have it already, you can stay on it. Prices of the C and F plans can rise by 300% or more over the next few years. This is the perfect time to come into Insurance Shops to review ALL your options and get the best plan for you moving forward.

Flood insurance basics

90% of all natural disasters in the United States involve flooding.

Insuring yourself against a flood is a little different than other policies.

  • Floods are not covered under homeownersand renters policies. Only a flood insurance policy will cover home flood related losses. (Basically, If water comes up from the outside then that resulting damage is what is covered by flood policy. If water comes from the inside, then it’s homeowners)
  • Flood insurance coverage for the structure and contents of the home are sold separately. Buildings are covered for replacement cost, but coverage for personal property is available on an actual cash value basis only.
  • The maximum flood insurance coverage amount is $250,000 for the structure of the home and $100,000 for the contents of the home. (“Excess” coverage is also available)
  • Flood losses for cars are covered under the optional, comprehensive portion of a standard automobile insurance policy.
  • Commercial flood insurance is available from the NFIP up to $500,000 of coverage for the building and up to $500,000 for contents. (“Excess” coverage is available to rebuild properties valued above those limits.

Buying flood insurance

When buying flood insurance, you should know that:

  • It’s easy to purchase – Flood policies can be purchased directly from us at Insurance Shops
  • There is a 30-day waiting period before a flood insurance policy takes effect, so don’t wait until the last minute to purchase it.
  • The NFIP policy maximums are inadequate to fully cover some people’s assets so look into excess flood policies, which provide water damage protection to homeowners over and above the coverage provided by the NFIP policies.

What if I don’t have flood insurance and there’s a flood?

Without insurance, relief from floods primarily comes in the form of loans. If your community is declared a disaster area, no-interest or low-interest loans are often made available by the federal government as part of the recovery effort. These loans must be paid back, which means you’re still liable for the entire cost of your damages or losses.

4 Facts about Overseas Travel Insurance

​​​Health Insurance when travelling to the overseas countries is not covered by your regular health insurance policy or Medicare, except for some emergency room visits. We highly recommend travel insurance coverage. It is very low cost and if a medical issue occurs while traveling, it can cover the costs of overseas care, bring you back home for care, or fly someone over to help you.

Many different types of travel coverage plans are available and all of them have individual unique features. We have put links to the ones we recommend on our website www.insshops.com where you can compare many of them and pick the best one for you. Costs of coverage can depend the time span of your trip, the country of your trip, the ages and number of travelers going. You can purchase for a single trip, multiple trips, up to a year of trips. You can purchase as an individual, couple, family or group of families or individuals traveling together. You can purchase medical only or include it with trip cancellation for medical reasons or cancellation for ANY reason.

The kind of insurance plans also to purchase differs according to the category of traveler. There are many different types of travelers. Some go to the overseas countries for adventures, some for leisure, while some people visit the foreign nations for education and business. You can purchase it for Americans traveling outside the US or foreigners traveling to the US. We are always available to answer individual questions and help pick a plan.