Live in Minnesota? Flood Insurance May be a Good Idea.

Every homeowner in Minnesota should consider flood insurance. In some areas, such as Mankato, St. Peter and other Minnesota River Valley communities, spring floods are a recurring problem. Recent mild winters notwithstanding, spring often means frozen ground, melting snow and rising river levels. Flash floods can hit in any season. Property in regions not commonly associated with flooding, including Minneapolis and Duluth, are not, however, exempt from danger. A house on high ground and  far from any body of water may suffer damage from an exceptionally heavy rain or broken water main.

Private and federal flood insurance plans

Standard homeowners insurance does not cover water surges and flooding. Depending on where your home is located in or near a flood zone, your mortgage lender may require flood insurance, or common sense may help you decide to buy a plan. James Weir Agency can help you sort out what you may need in terms of flood protection, and help you navigate the government-run flood insurance program. Private plans are also available.

Here are some quick facts about Minnesota flood insurance policies:

• Flood insurance is not included in home, condo or renters insurance.
  
• There is usually a 30-day waiting period before your flood policy goes into effect.
  
• Protection is offered by the National Flood Insurance Program (NFIP), but the federal program does not sell the insurance. 
  
• James Weir Insurance Agency does offer flood insurance for both residential and commercial properties.
  

What Flood Insurance Covers

If your property meets the criteria for flood insurance, the policy will generally cover:

• Building and foundation
• Electrical and plumbing
• Furnaces, air conditioning units and water heaters
• Appliances
• Carpeting, installed wall covering and bookcases
• Curtains and window blinds
• Personal belongings (clothes, furniture, electronic equipment)
• Food in freezers and refrigerators
• Valuables (up to certain limits)
• Debris removal

What Flood Insurance Does Not Cover

Every insurance policy has limitations, and flood insurance is no different in that respect. For example, sewer backup is only covered if it is a direct result of flooding. Basements and crawl spaces are eligible for limited protection. Some things that are not covered by flood insurance include:

• Mildew and mold damage that could have been avoided
• Property outside the covered building, including trees, decks, fences, hot tubs and swimming pools
• Living expenses and temporary housing
• Cash, precious metals and valuable paperwork
• Financial losses caused by business interruption or loss of property
• Vehicles

Contact Weir Insurance

An agent from Weir Insurance will be happy to discuss the possibility of supplementing your home insurance coverage, helping you evaluate risks and flood insurance quotes from several sources. We will help you find a solution that meets your personal goals.

Contact our Mankato or Edina, Minnesota office to discuss flood insurance.