THE IMPORTANCE OF FLOOD INSURANCE FOR PROPERTY DAMAGE CLAIMS

Preliminary estimates of the damages due to the heavy flooding in South Carolina are believed to be over $1 billion.  Unfortunately, many residential and commercial property owners in the impacted areas did not have flood insurance.  In fact, some experts have put the number of people with flood insurance and damaged properties in the state at only about 10%.

Many conditions can result in a flood. Hurricanes, overtopped levees, outdated or clogged drainage systems and the rapid accumulation of rainfall are all common occurrences. Some property owners mistakenly think that just because they haven’t experienced a flood in the past they won’t in the future. Flood risks aren’t just based on history, they are also based on a number of factors that include rainfall, river-flow and tidal-surge data, topography, flood-control measures and changes due to new construction and developments in the area.

“A standard homeowners insurance policy doesn’t cover flooding,” said Tom Allen from Hudson Douglas Public Adjusters, LLC.  “While it will likely cover water damage due to a faulty water heater, it won’t be of any help in a flood.  The storm in South Carolina has been called a 1,000-year flood, but it happened and similar events can happen anywhere. This is why it’s so important and a good investment to have flood insurance so a home or business has coverage for these types of events.”

Policyholders who encounter water damage due to floods or other reasons have access to the insurance claims experts at Hudson Douglas Public Adjusters. They represent policyholders and never works on behalf of insurance companies. Their clients can expect to obtain the most accurate and comprehensive settlement possible so they can quickly and properly rebuild their homes and businesses.