Oklahoma Floods
Types of Coverage
FEMA
Matthew Wilson and the rest of the Personal Lines team are trained to provide the proper flood insurance to keep you and your family protected from loss no matter what mother nature has in store. Our team will help you understand the differences between FEMA and private flood insurance and will work as a knowledgeable conduit between your bank and your insurance company.
Private Flood
Flood Insurance is a necessity along the plentiful lakes and rivers in Oklahoma. Coverage for flood damage is not covered with a regular Homeowner’s policy. Have you considered Flood Insurance even if you don’t live in an identified flood plain? It only takes one inch of water and your home can be damaged.
FAQ
Please reach us at gwilson@farmersagent.com if you cannot find an answer to your question.
Flood insurance is a separate coverage you can purchase through an agent or insurer participating in the National Flood Insurance Program (NFIP), which FEMA manages. Flood insurance does not need to be paid back and it is designed to restore your property to its pre-disaster condition.
Flood insurance typically covers the building itself. Things that are permanently fastened to the home like light fixtures, carpet or flooring and cabinets are considered part of the building. For an additional premium, you can buy coverage for your contents. The NFIP provides coverage of up to $250,000 for the structure of a home and up to $100,000 for personal possessions.
Also, flood insurance doesn’t go into effect immediately after you buy it. These policies have a 30-day waiting period unless a policy is bought at the same time as a newly purchased home. So, now is the time to consider adding flood coverage, not when there is a large storm on the horizon.
Possibly, federal disaster assistance is only made available when there is a Presidential Disaster Declaration. Federal disaster aid typically comes in the form of a low-interest disaster loan and it must be repaid, along with whatever loan payment you may already have for your property.
No. Flood insurance does not help pay for additional living expenses, such as temporary housing.
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