Flood Insurance in Gulfport, MS
Floods can wreak havoc on your home and property, potentially incurring devastating financial ramifications. Even a small amount of water seeping inside could inflict significant losses and damages, making appropriate loss control measures necessary. Fortunately, flood insurance can offer versatile and robust financial security.
What Is Flood Insurance?
Flood insurance is a specialized type of coverage that can fill crucial coverage gaps in homeowners and renters insurance policies. Most standard policies do not include floods as a covered peril, meaning that losses caused by heavy rains and overflowing bodies of water would need to be paid out of pocket. As such, acquiring and maintaining additional insurance for these incidents can make all the difference in limiting financial consequences. A flood policy can provide financial relief for losses involving the following:
- Structures—This may help policyholders recoup losses involving damage to their homes, such as those affecting roofs, foundations, walls and floors.
- Contents—This part of insurance can assist with repair or replacement costs involving a person’s belongings, such as furniture and electronics.
How Much Does This Cost?
Flood insurance rates can vary significantly depending on a policyholder’s unique circumstances. When calculating an insurance quote, the following criteria may be considered:
- Location
- Structural specifications (e.g., number of floods, age and building materials used)
- Local flood history
- Lot details (e.g., topography and proximity to bodies of water)
- Previous claims filed
- Coverage details (e.g., limits, endorsements and deductibles)
Where Can I Get Flood Insurance?
This insurance is often purchased through the Federal Emergency Management Agency’s National Flood Insurance Program. More recently, as flood risk mapping has evolved and become more reliable, a greater number of private insurers have also begun offering policies, which may include better customization opportunities and higher limits.
At Jarrard Insurance Inc, we have a comprehensive understanding of flood coverage and will work with you to assess and address your needs. Contact us today to learn more or to get a tailored flood insurance quote.