Find Out Your Schaumburg Flood Risk Now
Do you know if your home is at risk of being flooded? Are you unsure of whether or not you need flood insurance protection? And do you know how to get the benefits of the National Flood Insurance Program?
What kind of coverage can you get? How do you qualify? And how much does it cost?
Don’t worry! Frimark/Keller Associates has the answer to all your flood risk questions — plus the expertise to ensure you’re properly protected.
What Exactly is Flood Insurance?
Flood insurance protects you against the cost of putting right damage caused by heavy water inundation and mud slides.
It provides coverage of up to $250,000 for property damage and a further $100,000 for loss or damage to contents in most parts of the home. (Certain areas, such as basements, may be excluded).
Unlike most other types of coverage, flood insurance is offered through the Federal Emergency Management Agency (FEMA) package called the National Flood Insurance Program (NFIP).
It’s mainly provided by a group of private insurers who work together and with local insurance agencies like Frimark/Keller & Associates to provide reliable coverage at economic costs.
Some insurers also offer additional coverage over and above the limits set under the NFIP program.
How Much Does Flood Insurance Cost?
Flood insurance premiums are based on the level of risk identified by FEMA in its latest flood zone maps.
The average cost is around $700 but policies start at just a couple of hundred dollars, rising to more than $1,000.
Do I Need Flood Insurance in Schaumburg?
Flooding is nothing new to residents of Schaumburg and Cook County generally.
But when it happens, many people are surprised to discover they’re not covered through their homeowners or renters insurance policy.
We’ve already had our share of flooding disasters but now uncertainties about climate change and unpredictable weather patterns adds to the risk.
There’s also the fact that the state’s flood risks have been reviewed and flood zone maps redrawn.
These maps show clearly the level of risk in particular areas.
If you live in a high-risk zone, you’d not only be crazy not to have flood insurance, you may also be required to have it under the terms of you mortgage.
Many banks will not lend against a flood-risk home unless it is adequately insured.
However, it’s worth noting that 25% of all home flooding actually happens outside of these mapped high-risk zones.
During heavy storms, ground can become so heavily inundated with water anywhere it’s just impossible to absorb it and equally impossible for drainage systems to clear it in time to prevent a flood.
How Frimark/Keller & Associates Can Help You
At the very least, you should speak to us about the flood risks for your particular address.
We have access to all the relevant maps and can help you assess the dangers.
If you live in a high-risk area, the cost of insuring your home is tiny compared with how much you would have to pay to put problems right out of your own pocket.
Even if a disaster is declared, the only help you’d likely otherwise get would be in the form of FEMA loans which would have to be repaid.
And if you live in a lower-risk zone, your premium would be low enough to buy you peace of mind at a very economic cost.
Why You Should Act Now
There are two reasons why you should speak to the flood insurance experts at Frimark/Keller & Associates as soon as possible.
First, as previously stated, your mortgage lender may insist you have coverage.
Second — and this is a crucial point — flood insurance policies do not become active until 30 days after they’re bought. So, if you wait until there’s a threat of floods looming, you simply may not be able to buy coverage in time to protect you.
Furthermore, you can find out right now what your flood risk is and how much your flood insurance would cost, for free and without obligation simply by contacting us.
Call 847-907-4520 or email us now to get yourself properly informed and well-protected.