This MI resident recently realized he needed some type of insurance to cover the flood damage in his basement. He is not in a flood zone so he was not eligible to buy flood insurance, but after contacting his insurance agent he was able to get water back-up coverage. Water back-up coverage will cover water seepage in your home due to heavy rains, backed up drains, or broken sump pumps. You can contact your insurance agent to get more information on water back-up coverage. If you want to find out more about obtaining flood insurance from the National Flood Insurance Program or want to see if you are in a flood zone you can find the link on this Government Sponsored Plans Page.
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Get flood insurance too…
If an individual relies on a homeowners insurance policy to cover whatever flood damage occurs, the result will not be favorable to the property owner. Only flood insurance will cover such losses. Because flood insurance has a 30-day waiting period, property owners should not let an imminent flooding force a decision to obtain this insurance.
Even if you live in an area that does not have a high risk for flooding, it’s smart to have flood insurance. About 25% of the NFIP’s claims come from outside high-risk flood areas. The NFIP’s Preferred Risk Policy, designed for residential properties located in low-to moderate-risk zones, is available starting at a little more than $100 per year.
Your comment about “water back up” protection covering weater seepage is really wrong. They won’t cover seepage–this is important b/c insurance agencies looking for ways not to pay out