Do you need Flood Insurance?


flooded home

Because the standard Oklahoma homeowners insurance policy does not cover damage caused by flood waters you should seriously consider purchasing a flood insurance policy. Since 25% of flood claims come from areas at a low risk for flooding you should… still consider buying this coverage even if your home is not located in an area this is at a high risk of flooding.

Who can purchase flood insurance?

If your home is located in a community that participates in the National Flood Insurance Program (NFIP) by agreeing to adopt and enforce ordinances that are set forth by the Federal Emergency Management Association (FEMA) to reduce the risk of flooding then you can purchase flood coverage. In most cases flood insurance is available to homeowners in Tulsa, Broken Arrow, Owasso, Jenks, Bixby and the greater Tulsa metro area.

How much does it cost?

The rates can vary greatly based on the level of risk to flood waters and other factors. The rates are set and do not differ from company to company.

Is there a waiting period before coverage begins?

Yes. In most cases your coverage does not begin until 30 days after you apply for coverage and pay the premium.

Can I also purchase coverage for my personal property?

Yes.  In addition to purchasing coverage for your home you can also purchase coverage for your personal property.

What is not covered by a flood insurance policy?

Some of the things that are not covered are:  Damage caused by moisture, mildew or mold.  Damage to trees, plants, septic systems, walks, swimming pools, hot tubs and fences.

Is there a deductible?

Yes.  A flood policy has several available deductible options for both building and personal property  for you to choose from.  Please note that the deductibles will be applied separately to the building and the personal property.  If both your building and personal property are damaged by a covered flood loss a deductible will be applied to each.

If you have further questions or would like a quote to purchase a flood insurance policy please contact our office.

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Charles G. Harris Insurance Agency | 4724 S. Union Ave - Tulsa, OK 74107