Did you know that condominiums that are located near water or in low-lying areas may very well have a risk of flooding? The problem is that if your area floods it can very well flood directly into your condominium. That means you should have a separate flood insurance for condominiums policy in place. In essence, it can be just as important as your homeowner’s insurance policy. A great deal of condominium owners are under the false impression that the condo associations policy covers floods. In some cases it may, but typically speaking it only covers flooding in common areas and not your individual unit. You certainly do not want to find out the hard way.

Can you imagine suffering from a flood that ruins your condominium and your possession only to learn that it is not covered by the master condominium flood insurance policy? That means you are out of pocket for the damages and ruined items. That can equal tens of not hundreds of thousands of dollars. That is exactly why you need to have your own flood insurance for condominiums policy in place. When it comes to insuring your home and your belongings trust no one but yourself. You just never know when disaster will strike.

You certainly can’t leave it up to someone else to ensure that you have the proper insurance for condominiums policy in place. Floods happen all of the time. Riverbanks can overflow to the point that it causes flooding during excessive rainstorms. The same holds true if you live near the ocean. High tides during storms, called storm surge, can cause a tremendous amount of flood related damage. Although your homeowner’s insurance policy covers a vast variety of situations it does not cover flooding. As a result you should always have a flood insurance for condominiums policy in place.

This holds true even if your area has not flood in recent times. It also holds true if your area has not flooded in many years.  Did you know that it only takes one (1) inch of floodwater to cause over $25,000 in damages to the average condominium? That’s not counting your possessions.  Flood insurance for condominiums is certainly an incredibly small price to pay for the peace of mind of knowing that you are covered in case of an emergency. Purchasing flood insurance for condominiums goes a long way in protecting the things that you value.

In essence, it can protect both your home and your belongings. That includes your electrical and plumbing system, furnaces and water heaters, and permanently installed carpeting to name a few. It also covers your refrigerator, cooking stove, and build in appliances such as the dishwasher if the flood ruins them.

If you own a condominium in the Commonwealth of Massachusetts you need to ensure that you have the proper flood insurance policy in place. Please consult with a professional insurance agent that can answer your questions about all insurance related topics. It is important to fully understand exactly what you are buying when it comes to insurance policies. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options.

We look forward to helping you with all of your personal and or business related insurance needs now and in the future.