Flood Insurance

Could you be Under Water?

   Did you know that your home can flood in as little as 1 inch of water? Or that your car can be carried away by as little as 2 feet of flood water? Since you live where it rains, you are subject to the possibility of flooding. And your Home insurance policy will not cover it! I am serious. Even if you have all the bells and whistles of additional coverage on your policy, you do not have flood coverage on your home insurance policy. You only have flood coverage if you have bought a Flood Insurance Policy.

    Fast melting snow, severe storms and heavy rainfall can cause flooding far inland, as those of us in Texas are experiencing right now! People living outside of the high risk flood areas file more than 20% of the claims in the National Flood Insurance program. Those same claims receive 1/3 of the disaster assistance for flooding. So it is not just the high risk areas filing the flood claims. The average residential flood claim is around $30,000. But this doesn't include the claims from Catastrophes such as the flooding we are seeing in Texas.  

   You can obtain a policy through the federal government under the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program or you can go through private insurers. Private insurance may offer different limits of coverage and premiums based on the coverage and deductibles.  There are various levels of coverage and deductibles to choose from. You will have a separate deductible for both the building and the contents.  

   A flood policy will cover the building and the contents. Personal property coverage is optional, so be sure to discuss what you want with your agent. Flood policies will pay out as long as two or more properties are flooded. Premiums usually start at $300 annually and go up from there, depending on the amount of coverage and the risk factors of the area. If you are in a high risk zone, your mortgage company will require a flood policy. If you are in a moderate-low risk area, a flood policy is optional. Of course, high risk areas will have higher premiums than the moderate-low risk areas.

   Talk with your insurance agent to decide if this coverage would be a good fit for you. There is often a 30 day wait period for any flood policy to take effect, so you can't just buy a flood policy that will go into effect today. But if you are closing on a home and you have a mortgage, then the 30 day wait period will be waived.

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Jewelry Insurance

Protect those special items!

   Mother’s Day is coming up and you decide it is time to buy your wife something to show her how much you appreciate her. Something green, like her eyes. You work with a jeweler and create the perfect necklace.

   A few years down the road, you take the family out to the 4^th of July picnic at your church. You come home to find you have been burglarized. The TV, stereo, game console; and yes, that perfect necklace are all gone. The police give you a copy of the police report and tell you your insurance company will want that for the claim. Insurance! Of course! You have a solid homeowner's policy. Your stolen items can be replaced. Life is grand!

   You call your insurance agent. You explain about the break in. He asks you for an itemized list of what was stolen. You fill out the home inventory list he sends you. He calls back to let you know everything is covered, except the Mother’s Day necklace. Your policy only covers up to $2500 for jewelry. The necklace was custom made. That $2500 won't even come close! 

   What can you do to avoid that last part of the story? 

   You can call your agent today and tell him you want to add scheduled personal property protection for your special pieces of jewelry! This coverage will replace the items listed on your policy in any case of loss, including mysterious loss. And there is no deductible with this coverage. SPP can cover necklaces, wedding rings, pendants, bracelets. You can also add SPP for pieces of art, coins, furs, books or guns.  This coverage will insure each piece down to the penny, so you will need to provide appraisals for each piece. You should have your item(s) appraised every 3 years to keep up with the changing costs of metals and precious gems.  Certified appraisals should include a picture, serial numbers, descriptions and replacement value. 
This coverage will add to your premium, but if the unthinkable happens, 
it will be worth it! 


Visit Brockman Premier Insurance at www.wekeepuinsured.com for tips on your 
home, auto, commercial and life insurance.