Wharton Insurance Briefs

Flood insurance – Most people say, “I’m not in a ‘flood’ area.” Flood insurance covers overflow of inland or tidal waters and unusual and rapid accumulation or runoff of surface waters from any source. Flood insurance is much more detailed than one would generally think. For example, FEMA provides flood insurance for both high and low risk properties. If you qualify as a “low risk” and/or are not in a flood zone, you can qualify for a preferred risk policy.

Contact your agent and find out: What is defined as a flood? What is insured as part of your building or contents? Is there a waiting period? Can you get “federal emergency financing” if you are involved in a flood and you haven’t purchased flood insurance?

It is an important part of an insurance program for both personal and commercial properties.

Please feel free to call me if you would like us to evaluate your insurance program’s “flood” exposure.

Mario DeFilippis AAI Vice President Wharton Insurance Group

800-221-0003 (ext. 1320) (908) 513-8588 (cell) mdefilippis@whartoninsurance.com