Is flood insurance mandatory for my property? Will the lender require it? Do I qualify for a lower-cost Preferred Risk Policy (PRP)? Does my community participate in the NFIP’sCommunity Rating System (CRS)? If so, does my home qualify for a CRS rating discount?
In Milwaukee, Wisconsin, and the surrounding areas, there are several water sources that can contribute to the risk of flooding including, Lake Michigan, Milwaukee River, Menomonee River, Kinickinic River, Root River, and Lincoln Creek. Potentially, there can be an overflow from any of these so...
In-house capacity with focus on small to medium sized risks Meet Our Flood Insurance Team Christa Nadler Area Executive Vice President Chicago, Illinois 312.803.7374 Related Industries, Products and Programs Explore Property Insurance Property insurance coverage and placement for your hard-to-place clien...
The cost of private flood insurance varies greatly, however, and can be more or less than an NFIP policy.In either case, your premiums depend on the location and flooding risk of your home, the building materials and the number of floors, as well as the type of policy and the ...
Mark Friedlander, Director of Corporate Communications at the Insurance Information Institute, explained that a growing number of homeowners are at risk due to Florida's increasing flood events. "There are more people living in harm's way than ever before, especially in South Florida," Friedlander...
This is because when you take out a mortgage on a house, this house will serve as collateral in case you stop making payments, so the borrower has a financial stake in this property. If it gets damaged or destroyed by floodwaters, the lender is at risk of losing the money you borrowed...
Most homeowners and renters policies won’t cover flood damage, so those at risk need separate flood insurance. Flood insurance covers damage from scenarios such as heavy rainfall, overflowing bodies of water and hurricane storm surges. Flood insurance pays to repair the structure of your home and...
» MORE:Why you might need flood insurance — even if it’s not required Are there other ways to pay for flood damage? If you live in a low-risk area, you may want to weigh the cost of coverage against the likelihood of having to file a claim. If your area has never had serious...
If you live in a flood-risk area, there are several steps you can take to get your home flood-ready. That way, you can limit potential damage and it also can help if you need to claim on your home insurance. Read our top flood prevention tips below: ...
Flood Insurance Committed To You We are committed to supporting the communities and professionals in the floodplain. With webinars, lunch and learns, and outreaches, we ensure everyone has access to and understands the latest codes, ordinances, and regulations. Our in-house insurance brokerage is ...