Why You Should Consider Flood Insurance

Flood insurance is something that you should definitely consider as a homeowner. Unfortunately, it is not something that many homeowners consider for their home. There are many different reasons to explore getting a flood insurance policy, even if the bottom line is just to protect your home for any potential flood damage. Continue reading for some basic reasons why flood insurance should be something that you have. 

  • Twenty percent of all home flooding happens in areas that are at low to moderate risk. That is a big percentage of floods happening in areas where it is not expected to occur. 
  • Flooding is more likely to occur when you live in an area of new construction. This is because the area has less soil that can absorb the rain as it falls. With more roads and sidewalks, the rain has to go somewhere and it may end up in your home. 
  • Flooding can happen in other ways besides rain. Flooding can happen from a burst pipe in your home or even from an above ground pool giving way. There are many possibilities and it is something to consider so that you are not surprised by random flooding. 
  • Flood insurance is not always included in your homeowners insurance policy. In fact, more often than not, it is not included in a homeowners insurance policy and you have to purchase it separately. Before you assume that you are covered, take a good look at your homeowners insurance policy to see if you currently have flood insurance. 

Contact us today for more information on flood insurance. Here at Saucon Insurance Agency, we can take a look at your current policy or even explore options for a new flood insurance policy for your home and we will be happy to help.

Why You Need Umbrella Insurance

Consider this – you are only a few years away from being able to finally retire.  You have amassed a nice sized retirement account and you have finally managed to pay off both your home and your car.  Added all together, you might have assets that amount to near a million.  You have done well for yourself.

One day, as you are driving along, you get into an accident.  Thank goodness you aren’t hurt badly and the damage that your vehicle sustained is within the coverage limits of your auto insurance.  However, the other vehicle was carrying execs from a rather large company.  The damage to their vehicle and their bodies is a bit more serious.

The ruling of the court is that you are the responsible party and have to pay for the damages to the other party’s vehicle along with their medical expenses and lost wages.  The total comes to about a million dollars.  Your vehicle insurance will cover around $250,000 but you are left on the hook for the difference. 

If you are like most people, this could financially ruin you. Unless you happen to have an umbrella insurance policy.  This is a type of insurance that will take over when you hit the overage limits of your other insurance policies.  In cases like this, it could handle the balance as well as any legal costs.  This will save you from losing all of your assets, including your retirement, just because of an accident. 

Remember that coverages and policies will vary by state so make sure that you know what you are getting and what it covers.  If you are in the Bethlehem, PA area, come on into Saucon Insurance Agency where are friendly and knowledgeable agents are standing by and ready to assist you.