Flood Insurance in Louisiana
Flood Insurance Coverage is coverage designed to reimburse you for protection loss as a result of extensive water damage due to floods or hurricanes. A comprehensive flood insurance policy is necessary to protect your assets as a supplement to homeowner’s insurance because home insurance does not cover the cost of water damage to your home.
Determining how much coverage is needed to protect your property from flood damage can be confusing, our esteemed advisors at AWS Insurance will work with you to find a plan that meets your needs without exceeding your budget. The first thing to consider is that the cost of replacing or rebuilding your home may be different from the price you paid because insurance is concerned with repair costs, not the property value of your home – especially in such a volatile industry.
Here are some aspects of your home that may be considered when determining insurance coverage options:
- Most recent appraisal of your home
- Number of rooms and stories
- Square footage of home, purchase price, and mortgage lender requirements
- Cost estimators for replacing/rebuilding by quoted carrier
Importance of Flood Coverage
In Louisiana, we know all too well how important it is to be covered for damages caused by hurricanes and floods. Without a good flood insurance coverage policy, you can be out of a home if you can’t pay for damages out-of-pocket. The real fact of the matter is, everyone needs flood insurance coverage – floods happen everywhere. Luckily, the National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Act (FEMA), dictates premiums and rates concerning flood coverage by national flood maps.
According to FloodSmart.com, as little as two inches of water can cost you as much as $10,000 in damages. This calculation accounts for cleaning and damages to appliances, personal items, electrical and plumbing, kitchen cabinets and furniture.
See the virtual interactive tool from the National Flood Insurance Program (NFIP) below to estimate the cost of water damage to your specific home then call AWS Insurance to protect your home in New Orleans, Metairie, Mandeville, Covington, and surrounding areas with a flood insurance policy perfect for your family’s’ needs.
AWS Insurance serves New Orleans, Metairie, Kenner, and Southern Louisiana by providing protection for your home, business, or family with affordable plans in property insurance, liability insurance, life insurance, car insurance, and flood insurance from our Metairie, LA office. Our corporate clients can rest assured that our dedicated advisers at AWS Risk Management, LLC will help you implement workable solutions that achieve maximum asset protection with minimal cost of risk to your company.