No matter where you are in Georgia, we make obtaining flood insurance very simple here at Jones-Logan Company Inc. Keep in mind that no matter how beautiful and lush Georgia really is, like many other coastal states, there have been many homeowners in Georgia who have experienced many floods. The truth of the matter is floods can happen at anytime and anyplace. It is important for homeowners to always be prepared so that they do not have to suffer significant financial loss.
Is Flood insurance required in Georgia?
All homes and businesses do not have to have flood insurance here in the state. However, flood insurance claims in low to moderate risk areas make up about 20% of claims. Even if flood insurance is not required through your mortgage lender, we still highly recommend you purchase it. If you have taken out a mortgage from a federal bank, it is required that you purchase flood insurance if you reside in a high-risk area. There are even some lenders that will still require it even if you do not live in a high-risk area, so please be cautious of these things.
What options do I have for coverage?
Keep in mind that you can obtain a standard policy, or you can purchase more coverage.
Specifically, most flood insurance policies will cover damage and loss to your home. The policies will also take care of any damage and loss to your personal belongings due to a flood. Flood claims have two common methods for reimbursement which are replacement cost value and actual cost value. The cost to replace any of your property that has been damaged is referred to as RCV.
Contact Us Today
Contact us today here at Jones-Logan Company Inc. in Georgia for your quote on flood insurance. We can help you make the best decision to help protect all of your personal property and your home by choosing a flood insurance policy.