A quick note about flooding & home/building insurance   Leave a comment

Ground water is not covered by virtually any building or dwelling insurance policies without a flood insurance policy.  This fact is very likely to come into play by early next week in the Buffalo area of western New York state as temps are predicted to rise into the 60’s and rain is being called for Sunday and Monday.

That’s going to mean a LOT of atypical water, including a lot of ground water, which is likely to cause a lot of headaches and damage for homeowners.  As mentioned above, if you do not have flood insurance, damage done to your home or other building(s) is not going to be covered.  What’s “worse” is the fact that if you do not already have flood insurance, you cannot buy it now in hopes of protecting your home from next week’s potential flooding – flood insurance policies require a 30 day waiting period for that exact reason.  The only time the 30 day waiting period can be waived is if the flood coverage is being required by a mortgage lender on a newly-purchased building.

Don’t have flood insurance and worried about the damage that could be done?  Here are a couple websites that have some useful suggestions of how you can at least mitigate or prevent much of the damage:

http://restorationindustry.org/content/protecting-your-home-after-snow-storm

http://www.kshb.com/weather/weather-news/snow-melt-could-cause-foundations-big-problems

http://www.ready.gov/sites/default/files/Spring_Flood_Fact_Sheet.pdf

http://www.ag.ndsu.edu/flood/media-resources/news-releases/before-the-flood/protect-your-property-from-downpours-snowmelt

http://www.melochemonnex.com/en/residential/articles/home_ins_winter

I hope that you find this information helpful, and if you happen to have friends or relatives in the Western NY area – please share this info with them now!

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Posted November 20, 2014 by Scott in Introductions

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