EDISON BLOG

Category: Flood

3 Common Misconceptions about Flood Insurance

 
 
Floods can occur anytime and anywhere. In fact, they are the number one disaster in the United States. One of the most important things you can do to protect your possessions and assets is to purchase flood insurance.  Here are three common flood insurance misconceptions, and the truths you should know:
 
Misconception: Homeowners Insurance covers flood damage.
Truth:  A standard home, condo, or renter’s insurance policy does not cover flood damage. To be protected in the event of a flood, you must purchase flood insurance.  Homeowners Insurance may cover water damage, such as a hole in your roof or pipe leak, but will not cover flood-inducing risks such as storm surge or torrential rainfall. You would need to purchase flood insurance to protect your home from flood losses.
 
 Misconception: You must live in a high-risk flood plain to purchase flood insurance.
Truth: Every home, especially in Florida, is at some level of risk of flooding. Everyone should obtain flood insurance, regardless of their home’s level of risk. It only takes one inch of flood water to produce thousands of dollars in damages. According to FEMA, roughly 25% of all flood claims come from moderate to low risk areas.
 
Misconception: Flood insurance can only be purchased through the NFIP.
Truth: Flood Insurance can also be purchased through private carriers, like Edison Insurance Company.  Edison offers our policyholders flood coverage which is currently not offered through the NFIP, though a certified flood endorsement. Our flood endorsement is designed to cover your personal possessions to your selected coverage amount, and eliminates the need for a standalone flood insurance policy.  For more information, or to see if you are eligible for flood insurance with Edison Insurance Company, speak to your agent today.
 
 
 
The safety of you and your family is Edison Insurance Company’s top priority. Our mission is to provide quality coverage at competitive rates while providing exceptional service. For more information on homeowners insurance in Florida, or to get a quote, call us at 866-568-8922. 

Why You Need a Flood Preparedness Plan


 
Spring is here, bringing increased chances of rain and increasing a risk of flooding. Floods are unpredictable and cause billions of dollars in damages, more than any other natural disaster. The safety of your family should be your top priority in the event of a flood therefore, it is important you have a flood preparedness plan. Here are a few other additional reasons why you need a flood plan in place:
 
Floods can occur at any time.

 “April showers bring May flowers”, but floods can occur at any time of the year. It can only take one heavy rainstorm to cause serious flooding, resulting in thousands of dollars in damages.
 
Hurricane Season

Hurricanes and Tropical Storms can produce inches of rain and storm surge, which is a leading cause of flooding. As we saw during the 2017 Hurricane Season, flooding was a leading cause of damage resulting in billions of dollars in losses. After Hurricane Harvey’s unprecedented flooding, CoreLogic estimates the total residential (insured and uninsured) flood losses to range between $25 to $37 billion. Hurricane Irma also brought its fair share of flooding damage to Florida and surrounding states, causing $25-$38 billion dollars in residential flood losses, according to CoreLogic.
 
You do not have to live in a flood zone to experience flood damage.

Just because you have not experienced a flood before, does not mean you never will. In fact, roughly 25% of all flood claims are from areas with a moderate to low risk of flooding. Although Florida is nicknamed the “Sunshine State”, we are especially prone to experience flooding.  If you would like to learn more about your home’s flood risk, contact your agent, or use FEMA’s Flood Map Tool.
 

 
Developing your flood preparedness plan

Take measures to protect your family, property, and yourself in the event of a flood by considering these tips:
  • Have a family evacuation plan.
  • Keep an emergency kit full of provisions.
  • Secure your valuables and documents in a waterproof container.
  • Purchase flood insurance.
 
Flood coverage is not included in a standard homeowners insurance policy. Edison Insurance Company offers a certified flood endorsement to qualifying policyholders, eliminating the need for a standalone flood insurance policy. Speak with your agent to make sure your home and possessions are covered in the event of a flood.
 
For more flood preparedness tips, click here.
 
 
The safety of you and your family is Edison Insurance Company’s top priority. Our mission is to provide quality coverage at competitive rates while providing exceptional service. For more information on homeowners insurance in Florida, or to get a quote, call us at 866-568-8922. 
 

Flood Preparedness

 
Floods are extremely unpredictable and destructive, and can occur in regions which barely ever receive rain. Floods not only destroy property and cut essential services, but they can cause death and injuries, isolate communities, and damage major infrastructure.
 
Flooding can happen anywhere, at any time, and can result from a variety of water sources including rivers and creeks, storm tides, heavy rainfall, and even the pipes from your own home. Apart from the physical damage to your property, experiencing a flood can be a very emotional time for you and your family while you pick up the pieces. Being prepared for the possibility of a flood can reduce both stress and costs.
 
By spending a few hours securing your home and preparing an emergency plan, you can be ready for anything which comes your way. Here are some quick tips to help you prepare for a flood:
 
  • Understand the flood risk in your area
  • Check with your local council about local flood plans or records which detail problem areas
  • If you live in a flood zone, consider alternatives to carpet
  • Prepare an emergency kit
  • Speak to household members and create an emergency plan
  • Keep a list of emergency telephone numbers on display
 
One of the most important things to do in preparation for a flood, is to check your insurance policy to see if you are covered for flood damage. Flood coverage is excluded under most homeowners policies and will require additional coverage. Speak with your agent today, and make sure your home and family are protected. 



Thank you for visiting our blog. Hopefully, you came away with some great home insurance and safety tips. Edison Insurance Company’s mission is to provide quality coverage at competitive rates while providing exceptional service.  For more information on Florida homeowners insurance or to get a quote, please call (866) 568-8922.

Storm Surge Safety


 
Storm surge is an abnormal rise of water generated by a storm, over and above the predicted astronomical tide. It is a change in the water level, due to the presence of the storm and is the most threatening portion of any hurricane. Storm surges are caused primarily by the strong winds in a hurricane or tropical storm. Evacuation orders due to a storm surge should never be taken lightly. It is best to get out sooner rather than later, as they can rise a day before the storm occurs. Living in close proximity to the ocean can be the most dangerous.

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Storm Surge Preparation Tips:
 
  • Find out from your local emergency services if you are in a surge-prone area
  • Ensure windows are tightly closed, especially in the basement or lower floors
  • Make note of family/friends who live on higher ground in case you need shelter
  • Always have an evacuation kit ready to go in the case of an emergency
 
During Storm Surge:
 
  • If instructed, evacuate immediately and do not delay
  • Avoid driving in flood water
  • Pay attention to storm progression and warnings from local authorities
 
Know Your Elevation:
 
If you live near the coast, or are thinking of buying property near the coast, it's very much in your financial and survival interests to know the elevation of your home. If you are a home owner, your flood insurance certificate should tell you what your elevation is, based on the best available USGS surveys for the area.
 
Flood Insurance:
 
An easy rule to remember is, flood is damage from the floor, up and wind damage is from the roof, down. It is important to speak to your agent about your coverage and to make sure you have everything you could possibly need.
 
As a homeowner, it is important to know what is covered under your policy and what isn’t. Standard homeowners and renter’s insurance does not cover flood damage. Flood coverage, however, is available in the form of a separate policy.


Edison Insurance Company’s mission is to provide quality coverage at competitive rates while providing exceptional service.  For more information on Flood Insurance, or to get a quote, please call (866) 568-8922.
 

Always Have a Plan: Flood Emergency Preparedness


 

Emergencies can strike at any given moment, which is why they’re called emergencies. By having a solid plan, you can ensure the safety of yourself and your entire family, no matter what comes your way. Here are some questions to ask yourself:
 
Do I have an exit strategy?
Preparedness begins with the entire family. Set aside some time to sit down and have a conversation to make sure everyone is on the same page. In the event of a flood, how will everyone get out both quickly and safely? Be sure everyone in the household knows to avoid any water six inches or deeper since this amount is enough to knock a small child over or sweep an adult off his/her feet.
 
Do I have an emergency contact?
Give someone you can trust access to personal information, such as a list of medications for the family, insurance policy numbers, phone numbers, documents, etc. This could be a close friend or family member. You should also designate someone to watch over your children or pets in the event of an emergency. When dealing with the aftermath, you know they are safe and cared for.
 
Do I know my exits?
Everyone should be aware of every possible exit in the home, including doors and windows. Speak to your younger children about the safest ways to exit and how to calmly do so. It is also a good time to let them know breaking a window or cutting a screen is acceptable in an emergency. However, you should show them the safest ways to perform these actions and make sure they can differentiate an emergency vs. non-emergency.
 
Do I know exactly what I have?
Documenting your possessions is the best way to ensure your insurance will be able to cover everything. You should take photos and keep a proper inventory of everything, as well as knowing their worth. This is also something you can keep with your emergency contact, or place in a waterproof safety deposit box which can be retrieved during or after flooding.
 
During a flash flood, water levels can rise drastically, and there will be little time to think. Therefore, it is important to be 100% prepared, no matter what. 

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Thank you for visiting our blog. Hopefully, you came away with some great home insurance and safety tips. Edison Insurance Company’s mission is to provide quality coverage at competitive rates while providing exceptional service.  For more information on Florida home insurance or to get a quote, please call (866) 568-8922.

Is your home at risk for flooding?


 
Flooding is one of the most common natural disasters in the United States and one of Florida’s most frequent hazards. There are several reasons why flooding can occur, such as heavy rainfall, storm surge, or river overflow. Depending on your home’s location, it can be at a higher or lower risk for flooding. However, you do not have to live in a high-risk flood zone to experience costly damages from floods. Every home has some level of risk for flood damage, and per the NFIP, roughly 25% of their flood insurance claims paid in 2015, were for policies located in low-risk areas. Just an inch of flood water can cause thousands of dollars in damage to your home. For these reason, regardless of your home’s risk level, it is imperative to purchase flood insurance.

Edison Insurance Company offers a certified flood enforcement which provides the flood protection policyholders need. Edison offers a broad variety of flood coverage options not currently offered through the NFIP, or with other private carriers. For more information on how to obtain flood coverage with Edison Insurance Company, please speak with your agent.
As a homeowner, it is crucial for you to understand your home’s flood risk to ensure you are properly covered. For more information on flood risks, click here.
 
Thank you for visiting our blog. Hopefully, you came away with some great home insurance and safety tips. Edison Insurance Company’s mission is to provide quality coverage at competitive rates while providing exceptional service.  For more information on Florida homeowners insurance or to get a quote, please call (866) 568-8922.

Understanding Flood Insurance


 
One of the best ways to learn is to follow by example. The photo below is a home affected by a disastrous flood. As you can see, a majority of the home is destroyed, and will require major repair in order for the homeowners to live here again. Now, imagine if this was your home, and you found out none of this damage was going to be covered by insurance. First-time homeowners usually assume homeowners insurance covers everything. Here are some common questions people would ask when found in this situation:
 
 
 
“I have homeowners insurance. The flood happened in my home, so why isn’t it covered?”
  • A typical homeowners insurance policy does not include flood coverage. In the aftermath of Hurricane Katrina in 2005, this fact gained publicity when thousands of homeowners submitted claims to their insurance providers and learned the damage would not be covered because it had been caused by a flood. The debate back then was, the damage was caused by wind and not water.
 
  • An easy rule to remember is, flood is damage from the floor, up and wind is damage from the roof, down. It is important to speak to your agent about your coverage to make sure you have everything you could possibly need.
 
“Is water damage covered at all?”
  • In terms of insurance, the definition of flood is rising water. Any damage caused by rising water will require its own flood insurance. Damage caused by broken pipes or overflow would more than likely be covered by homeowners insurance, but not because of a natural disaster.


As a homeowner, it is important to know what is covered under your policy and what isn’t. Standard homeowners and renter’s insurance does not cover flood damage. Flood coverage, however, is available in the form of a separate policy from Edison Insurance Company. 


Edison Insurance Company’s mission is to provide quality coverage at competitive rates while providing exceptional service.  For more information on Flood Insurance, or to get a quote, please call (866) 568-8922.

 

Preparing for a Flood

 

 
Spring has arrived, bringing heavy rains and increasing our risk for flooding. Floods can occur at anytime and anywhere, are the most common natural disaster in the United States. Here are a few tips to protect you, your family, and home in the event of a flood:

Create an evacuation plan: Having an evacuation plan in place prior to a flood can help prevent property damage and ensure the safety of you and your family. It is important to review the plan frequently with every family member, and to make sure each room in your home has a working exit in case of an emergency. Additionally, it is imperative your family members know not to enter flooded areas on foot, or by vehicle.

Protect your property: Securing your possessions before a flood occurs can significantly reduce damages and expenses afterwards. Always keep valuables and important documents in a sealed waterproof container. If time permits, elevate furniture and electrical equipment to avoid damage.

Stay informed: The National Weather Service (NWS), along with the National Oceanic and Atmospheric Administration (NOAA), issue flood alerts and warnings when weather conditions are more likely to produce floods in your area.

Purchase Flood Insurance: Every home is at risk for flooding and flood damage, and many homeowners are not financially prepared for the expenses flood damage can cause. Edison Insurance Company offers flood insurance at competitive rates. Speak with your agent, to learn more about obtaining flood insurance with Edison Insurance Company.
For more information on preparing for a flood, click here.
 

Thank you for visiting our blog. Hopefully, you came away with some great home insurance and safety tips. Edison Insurance Company’s mission is to provide quality coverage at competitive rates while providing exceptional service.  For more information on Florida homeowners or condo insurance, please call (866) 568-8922, or visit our website