Sewer back up coverage or Flood Insurance?
by Matt Perry, EW Smith Agent
If you are reading this you probably had a foot or so of water in your basement last year. If not you know someone that had, or you are worried that your home could at some point experience some type of flood. Don’t worry, you are not alone. Up until recently, nobody worried to much about this. It’s been over a decade since rain has devastated this area. In 2000, we experience something similar. But it seems like it was forgetton And it seemed like nobody was prepared this time. How could you be? The water just started shooting up like a fountain from the sewers. Cars were submerged. Freeways were closed. Emergency Rooms were shut down, and cities were completely under water. Literally not financially!
Nobody asked for it. And nobody liked it. Nobody likes ripping out carpet, throwing away things that meant something, cutting out drywall and cleaning…over and over again. And just like you, I’m tired. My basement flooded and you know what….it sucked. It totally does. My back hurt, my heart hurt, and my feet were killing me. It took months to get things back to normal..
But if you’re asking yourself, “If I have a sewer back rider on my homeowners policy, do I then really need flood insurance?” Then you’re asking the right questions. Because experience dictates action. My answer to this question would be“ Yes!, absolutely! You need flood insurance.” Not because I am an insurance agent, but because of what just happened to us.
Sewer back up coverage is an endorsement on your home policy that will give you limited payout in the event that water comes up through your sewer drains.
Flood insurance is a separate policy that will payout when there is a flood outside and it comes into the home. Keep in mind, it is regulated by FEMA and the flood has to start outside of the home first.
As many are finding out, their sewer back rider wasn’t enough. In some cases, it didn’t even apply. Financially, anyone can be vulnerable to floods. However, most poeple think that because they don’t live in a flood zone, they can’t get flood insurance. Which isn’t true. Did you know, that people living in low-risk, no flood zone areas file over 20% of National Flood Insurance Program (NFIP) claims. The good news is that if you don’t live in a flood zone, then flood insurance can be very affordable.