A Flood of Changes Could Affect You

As you should now know, damage from a flood is not covered by your homeowner’s policy. So if you have been thinking about adding flood protection, now is definitely the time to review the risk of this kind of damage to your home or business.

Because of an increasing rate of severe flooding across the U.S. and constant topographical shifts, the federal government is reviewing and, when needed, changing flood zones. If you have a flood policy in effect, you may qualify to grandfather your current flood zone. A review for Barnstable County will begin on May 31, 2012.

Mortgage lenders require a home to carry flood coverage in the A and V Flood Zones. If your zone changes to one of these, that requirement will be enforced. But the grandfathering rule could save you money.

To find out about your flood zone, contact your customer service representative at Eldredge & Lumpkin (800 945-1840) or visit the Federal Emergency Management Agency Map Service Center online.

• Read all INSURANCE CURRENTS, Fall 2011