As quiet as the Jefferson, Wisconsin area is, it is no stranger to flooding. With the Rock River flowing right through town, storms and heavy rains can quickly send water outside the banks. Unfortunately, standard home insurance typically excludes water damage from coverage if it is caused by weather-related flooding instead of a burst pipe. Given that the average cost of flood damage remediation and repair is tens of thousands of dollars, spending a few hundred dollars a year on coverage is a small investment in peace of mind.
Consider the following scenario:
A family purchases a 2,000 square foot home in Jefferson, Wisconsin. A large storm system causes water to rush in, climbing 6 inches high throughout the home. Just half a foot of water ruins the doors and baseboards, as well as the home’s electrical wiring and flooring. It also causes damage to the wall insulation and drywall, as well as the furniture and appliances. Add in the cost of professional cleaning, and the bill reaches nearly $40,000. Even a smaller flood of just 1 inch would be enough to incur more than $20,000 in damages.
Keep in mind that the probability of your home flooding in the future does not depend on your experiences in the past. While some properties tend to be at higher risk of flooding, others may only flood during especially heavy downpours – the type that comes once every decade or quarter-century. The most important thing you can do to protect your family from flood damage is to invest in flood insurance.
Flood Insurance in Wisconsin
Flood insurance is available as stand-alone coverage for both homeowners and renters. Often, renters prefer a contents-only flood insurance plan, as they are not responsible for any structural damage to a rental unit after a flood. Homeowners, on the other hand, may wish to purchase both structural and contents coverage, whether you live in a low, moderate, or high-risk area.
Flood insurance works differently than other types of property insurance in Wisconsin. Instead of comparing rates from several insurers, flood insurance plans are government-backed and designed to make coverage affordable even for those who live in known floodplains. We offer flood insurance through the National Flood Insurance Program. This coverage must be purchased through an agent, such as one of the team members here at Stauffer-Klug Insurance. We can help you determine whether to insure your entire home or just the contents of your home during a flood.
Keep in mind that your individual flood insurance rates will vary according to your level of risk. In addition to your home’s location, your premiums may also depend upon other factors, such as the age of your home and the value of your assets. Also, it is important to purchase insurance as soon as possible. Waiting until there is bleak weather is too late, as it typically takes 30 days for your policy and coverage to become active.
If you think that you might need flood insurance, talk with an agent as soon as possible. At Stauffer-Klug Insurance, we sit down with our customers to determine how much flood insurance protection is needed in various flood situations. Don’t put your home and personal property at risk. Contact Stauffer-Klug Insurance today to speak with an agent about how flood insurance could provide an additional layer of protection not offered by your homeowners or standard renter’s coverage.