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Broken Arrow, OK 74012

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Oklahoma Insurance Blog

How Flood Insurance Protects You Financially

As a homeowner in Tulsa, OK, it’s critical to have two distinct policies for complete financial protection: Home Insurance and Flood Insurance. If you lack either, your home risks exposure to significant damage, potentially leading to a complete loss. Greater Tulsa Insurance Inc. is here to ensure you balance your priorities with the right insurance policies. Let’s delve into the importance of Flood Insurance.

Understanding Flood Coverage

Homeowners sometimes neglect flood insurance, assuming that their home insurance policy would cover flood-induced damages. However, most home insurance policies specifically exclude floods. Without flood insurance, you lack any guarantee of coverage against flood-related damages. You need to procure a flood insurance policy to protect against this specific type of disaster. Backed by the National Flood Insurance Program, these flood policies provide reliable coverage, reducing your worry about potential financial losses.

Analyzing Flood Claims

If you reside outside a flood zone, you may question the necessity of Flood Insurance. After all, insurance against floods is only required for residents within flood zones. Yet, a surprising 20% of claims for flood damage originate from areas outside flood zones. When a flood occurs, you must be prepared and hold coverage to fund the necessary repairs – regardless of location. Flood Insurance gives you this layer of protection, whether mandatory or not.

Greater Tulsa Insurance Inc. is here to assist if you need to secure flood coverage for your home. Give us a call, and we’ll be ready to serve you.

Flood Insurance Claims: Navigating the Process After Disaster Strikes

Experiencing a flood can be a distressing and overwhelming ordeal in and around Tulsa, OK. In such moments, clearly understanding the flood insurance claims process can alleviate stress and help expedite the recovery journey. 

Flood Insurance Claims

Step 1: Assess and Document the Damage

The first crucial step is to assess the extent of the damage caused by the flood. Take photographs or videos of all affected areas, including structural damage, personal belongings, and visible water levels. Detailed documentation is vital in substantiating your claim.

Step 2: Contact Your Insurance Provider

Promptly contact your flood insurance provider to initiate the claims process. The sooner you inform them, the quicker the assessment can begin. Be prepared to provide essential information, such as your policy number, contact details, and the date of the flood event.

Step 3: Schedule a Claims Adjuster Visit

An adjuster will be assigned to assess the damage in person. Their role is to evaluate the extent of the loss and determine the coverage applicable to your policy. Walk them through your property during the visit, highlighting the damage documented.

Step 4: Document Your Conversation

During the adjuster’s visit, take notes and document the details of your conversation. Record their observations, assessments, and any recommendations.

Step 5: Provide Documentation

Your flood insurance provider will require specific documentation to process your claim. This may include your policy information, a detailed list of damaged items, repair estimates, and other relevant documentation. Make sure to organize and submit these materials promptly. The timeline for receiving compensation can vary, but your insurance company will communicate the timeframe.

Greater Tulsa Insurance Inc. Can Help You

At Greater Tulsa Insurance Inc., we can answer all your questions concerning flood insurance. We assist the Tulsa, OK region. Contact us today.

The Basics of Flood Insurance

If you are a homeowner in Tulsa, OK, you may have heard of flood insurance and wonder if it’s something you should consider. Flood insurance helps protect your property against the financial losses resulting from flooding.

Here’s what you need to know in Oklahoma:

What Is Flood Insurance? 

Flood insurance protects your home or business from damage caused by flooding due to heavy rainfall, storms, hurricanes, or other covered disasters. It covers the cost to repair or replace damaged property (including personal possessions like furniture) and provides you with additional living expenses if your home becomes uninhabitable due to flooding. 

Do I Need Flood Insurance? 

Whether or not you need flood insurance depends on your geographic location and the likelihood of flooding in your area. Contact a Greater Tulsa Insurance Inc expert is the best way to determine if you need flood insurance. We can help you assess the risk of flooding in your area and determine if purchasing a policy would benefit you.  

Understanding Coverage 

When considering purchasing a flood insurance policy, it’s essential to understand what types of coverage are available and how much coverage is necessary for your particular situation.

Typically, there are two types of coverage: Building property coverage and personal property coverage.

Building Property Coverage

This type of coverage helps with repairs and replacement of your existing home and other structures like garages or gazebos.

Personal Property Coverage

It includes coverage for items like furniture, clothing, and appliances damaged due to flooding.

Contact Us Today

Understanding and having access to flood insurance can help alleviate some of the financial burdens of unexpected floods. If you’re a homeowner in Tulsa OK, and want more information about flood insurance options available through Greater Tulsa Insurance Inc., reach out to us today!

How Can I Find Out If My Property Is In A High-Risk Area For Flooding?

The Flood Map Service Center by FEMA displays information like flood zones, floodways, and the risk rating of your home. There’s also information on levees, coastal barriers, the base flood line, and topographical and infrastructure data. For advice in Tulsa, OK, you can contact Greater Tulsa Insurance Inc. 

What to Know About High-Risk Flooding Areas 

Flooding is a problem in all regions, although some are more vulnerable than others. You may face increased insurance rates as well as probable damage to your house depending on the amount of hazard your property faces—low, moderate, or high risk. 

The maps provide a risk assessment based on previous flood occurrences and patterns. Most properties in high-risk flood zones are located near water. Non-flood zones account for more than 20% of flood-related property insurance claims, so no one should believe they’re secure. Flooding may become more prevalent as a result of climate change.

 According to Popular Science, nearly 15 million American properties are in significant danger of flooding in 30 years. More than three million are virtually guaranteed to be submerged during that period. There are various methods for preventing flooding in your home. One of them is to employ a flood sensor. 

These can detect leaks from equipment such as your water heater and washing machine and weather-related basement leaks. You’ll be notified of any unwanted water that appears in your home. Private flood insurance plans are available, but you can also get government-sponsored coverage via the National Flood Insurance Program (NFIP). 

Contact Us Today

Floodplains and flood zone classifications can alter over time due to new buildings and changes in terrain. Make a strategy to examine the flood zone classification of your property every five years or so. 

Keeping track of your flood zone designation helps you prepare for a potential flood and assures you have the correct type and amount of flood insurance at all times. For help, call Greater Tulsa Insurance Inc. in Tulsa, OK.

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