September 2004

Flood Insurance

With the Atlantic Hurricane Season upon us and the devastation being caused in Florida we are compelled to remind you of the need for Flood Insurance. The probability of one or more major hurricanes hitting the North East should not be underestimated.

Here are other “Flood Facts” that have been offered by one our carriers:

• Everyone lives in a flood zone.
• Just an inch of water can cause costly damage to your property.
• In addition to Hurricanes, winter storms and snow melt are common (but often overlooked) causes of flooding.
• New land development can increase flood risk, especially if the construction changes natural runoff paths.

The threat of Hurricanes and heavy rain storms, in combination with the other sources for potential flooding, creates an exposure not covered by your Homeowners nor most Commercial Property policies.

Homeowners and Property policies do not cover “Water Damage”, typically meaning:

1. flood, surface water, waves, tidal water, overflow of a body of water, or spray from any of these, whether or not driven by wind;
2. water which backs up through sewers or drains; or
3. water below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalk, driveway, foundation, swimming pool or other structure.

Flood insurance may be available for your home or business. However, unlike some other types of insurance, National Flood Insurance coverage can not be bound on the day of application. So don't wait until the water is rising. There may be an exception if you need a binder for a loan, subject to conditions, but otherwise there is typically a 30-day waiting period for Flood Policies to become effective through the National Flood Insurance Program.

So, if you feel you would like to consider coverage for what could be a substantial exposure to flooding or water damage, don't wait for the rain. Please call us for a flood insurance quotation today.

Very truly yours,

DeSanctis Insurance Agency, Inc.

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100 Unicorn Park Drive         Woburn, MA 01801         781.935.8480        email: info@desanctisins.com
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