It is important to know that most standard homeowner’s insurance policies do not include flood insurance. If you are a homeowner, business owner, or renter, it is highly recommended that you look into your own flood risk.
Floods can happen anywhere and at any time, especially in Rhode Island. Over the past half a dozen years Rhode Island has had two major flooding events in Superstorm Sandy in the fall of 2012 and extreme flooding in March of 2010. In 2010, Downtown Providence was hit with 7.6 inches of rain, East Providence had 8.75 inches and Cranston had 5 inches. No one was prepared for the floods and barely anyone had flood insurance. Many home and business owners faced thousands of dollars in expenses as a result.
As the weather gets warmer the possibility of flooding increases. Don’t think that it could never happen to you and take the chance of being caught in a flood without insurance. Look at the Rhode Island Floodplain here riema.ri.gov and check too see what zone you are in and what your risk of flooding is. Zone X has the least risk while Zones V and A have a high risk for flooding. Understandably, flood insurance is much more affordable in X zones than in Zones V and A. Homes within zones V and A are required by law to have flood insurance if the home was purchased on a federal lone, any federally backed interaction or a reversed mortgage.
To view a flood insurance rate map (FIRM) you can check out msc.fema.gov and simply enter your address in the box at the top of the screen. The National Flood Insurance Program (NFIP) offers affordable flood insurance to property owners. For more information about flood insurance, you can speak with your local independent insurance agent.
Flooding is not covered in standard homeowners, business owners and renters insurance policies. Look into what flood zone you are located in and what your chance of flooding is. Purchasing flood insurance can save you hundreds, even thousands in repair expenses. For more information on flooding and flood risks visit dbr.state.ri.us.
In honor of my final post, I would like to thank my Uncle, the boss, Anthony Bucci Jr., and to reflect on my time writing here.
For the past three summers, I have been writing blogs for the Bucci Insurance Group. I am extremely thankful to have had this business opportunity, and for my Uncle, Anthony Bucci Jr. for introducing me to the business world.
This opportunity has opened doors for me professionally, helped me grow stronger as a writer, and has inspired me to learn about a bevy of new topics such as the insurance business, as well as keep a close eye on local Rhode Island events. Once again, thank you Uncle Ant!