floodsmart Archives - Spencer Insurance Agency, Inc

April Showers Bring May Floods!

Spring is here and flowers are blooming.  It is great to see everything come alive again.  However, spring showers bring the risk of flooding.

Here are a few quick Flood Facts:

  1. You are NOT covered for flood damage if you do not have a flood insurance policy.
  2. 98% of homeowners do NOT have a policy and 25% of flood claims happen in low-moderate risk flood zones.
  3. According to FloodSmart.com, ANY home has a 26% chance of being damaged by a flood during a 30 year mortgage, compared to a 9% chance of being damaged by fire. Visit Here for more information from FloodSmart.gov.
  4. Flood insurance is affordable.  For example: Federal disaster assistance is usually a loan that must be paid back with interest.  For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2880 a year) for 30 yrs.  Now compare that to a $100,000 flood insurance premium, which is about $500 a year ($33 a month).

    Always remember that a flood insurance policy does NOT take effect until 30 days AFTER its purchase.

Do you have any stories of flooding that you can share?  If so, comment below and let us know, what happened to you?  Don’t wait until it is too late. 

  How often have we heard on TV someone say “I have been living here 50 years and this never happened before? 

 Call us today at 215-885-2200 for more information on protecting your home from flooding.

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