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Flood & Earthquake Insurance

If you live in a flood-prone area, your home faces a substantial risk of property damage due to flooding. And while standard home insurance might provide coverage for household water damage resulting from a burst pipe or similar incident, your home insurance won’t cover damage caused by floods. Depending on your home’s location, your need for flood insurance could be significant. Contact our agency today to discuss your flood insurance needs.

What Are My Flood Insurance Options?

The National Flood Insurance Program (NFIP) underwrites most flood insurance. If your community participates in the NFIP, you may be able to purchase an NFIP plan. Usually, you can buy NFIP plans through a major insurer or the NFIP Direct system.

NFIP plans must comply with federally established standards. There are two types of coverage: structure insurance, which protects your house, and contents coverage, which insures your possessions. There may also be coverage for debris removal costs, loss avoidance and cost of compliance.

You may be able to receive compensation for your losses and reduce your flood recovery costs by filing a claim on your flood insurance plan. Flood insurance doesn’t usually take effect until 30 days after purchase. However, if your lender requires that you have flood insurance to make, increase, extend or renew your loan, then there’s no waiting period.

Who Needs Flood Insurance?

Many homeowners must buy flood insurance if they live in a designated high-risk flood zone or have a mortgage backed by a federally insured lender.

Some lenders may require their mortgage holders to purchase flood insurance regardless of living in a high-risk zone. In addition, coverage is necessary if you live in a high-risk flood zone and have ever received disaster assistance through FEMA or the U.S. Small Business Administration.

How to Get Flood Insurance

Flood insurance can help financially protect you against the dangers of having your house flooded. Without it, you will need to pay flood-related damages out-of-pocket, which can be expensive. Contact Carmel Insurance Agency, Inc. today to learn more about flood insurance.


Earthquakes are devastating natural disasters that can completely shake up your world. An earthquake can cause extensive damage to your home or even destroy it completely. Given the potential ramifications of these disasters, many homeowners should consider the benefits and protections of earthquake insurance.

What Is Earthquake Insurance?

As its name suggests, earthquake insurance is a specific type of policy intended to provide coverage for damages and losses directly related to an earthquake. Most homeowners and renters insurance policies do not include earthquake coverage, so separate coverage must be purchased.

In general, earthquake insurance includes coverage for the following:

  • Dwelling—If your home suffers damage that requires repairs or even a full rebuild, this coverage can help cover your costs.
  • Personal property—Possessions damaged or destroyed by an earthquake, such as furniture or electronics, can be fixed or replaced using this coverage.
  • Loss of use—This coverage can help you recoup additional expenses if an earthquake makes your home uninhabitable. This may include expenses for a temporary dwelling, meals and transportation.

It’s essential to package earthquake insurance with other coverages. For example, separate flood insurance may be necessary if an earthquake causes external water to flood your home.

Who Needs Earthquake Insurance?

There are many factors that must be considered when determining your insurance needs, including:

  • Proximity to active fault lines
  • Frequency of earthquakes near you
  • Time elapsed since your area’s last earthquake
  • Structural details of your home and property
  • Value of your home and contents

Get the Right Coverage

Earthquake insurance can mean the difference between being able to repair your home and losing it altogether. These policies can be invaluable investments, particularly for those living in areas where earthquakes are frequent. Contact Carmel Insurance Agency, Inc. today to receive a quote or to learn more.

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