Why You Might Need Inland Flood Coverage

Don’t let flood waters wash away your financial future!

Flooding is on the rise in areas that are typically low-to-moderate risk. Through Auto-Owners, Marshfield Insurance offers an Inland Flood Coverage Endorsement – a great solution to help put your mind at ease, knowing you’re protected from a potentially costly water loss.

President/CEO Nick Arnoldy explains: “Home Insurance does not provide coverage for water seepage / flood.  Flood insurance provides coverage if two or more properties are affected or 2 or more acres (FEMA definition). So, there are a lot of instances where there is no coverage even available for purchase… until Auto Owners rolled this endorsement out a couple of years ago.”

The Inland Flood Coverage Endorsement (IFCE) is designed specifically for policyholders in low-to-moderate flood zones. Previously, coverage with the National Flood Insurance Program (NFIP) was costly for these areas due to high limits, surcharges and exclusions of common exposures.

“This a great product, one of a kind, that can provide coverage of up to $100,000 for ‘inland flood’ which is defined as: a general and temporary condition of partial or complete inundation of normally dry land area from overflow of inland waters or an unusual and rapid accumulation of runoff of surface waters from any source including but not limited to rainfall and ice melt to a residence,” explained Arnoldy. “It can cover the dwelling, basement personal property, loss of use / cost to stay at a temporary location while repairs are made, debris removal & fungi remediation!”

Arnoldy added that this is not meant to take the place of a standard flood insurance policy which is meant to protect dwellings and other property from the swelling of rivers, lakes and other bodies of water.

“Again, a National Flood Insurance Program or FEMA Flood Policy is only triggered when two or more acres of normally dry land or two or more adjacent properties (one of which is yours) has a temporary inundation of water,” he said. “This endorsement helps bridge the gap of what was a previously uninsurable event.”

WHY INLAND FLOOD COVERAGE?
• Limits more in-line with what homeowners and renters in low to moderate flood zones need.
• The IFCE provides a broader definition of flood and coverage is less restrictive than under the NFIP coverage.
• Covers personal property in the basement and loss of use, coverages that are excluded by the NFIP.
• The IFCE is designed as an endorsement to your existing homeowners or dwelling policy, not a separate flood policy.

WHAT IS AN INLAND FLOOD?
• When inland waters, such as streams or rivers, overflow and partially or completely cover normally dry land.
• Unusual, rapid rain accumulation, runoff or snowmelt that doesn’t drain away or soak into the ground.
• When water carries mud and becomes a mudflow.

WHAT IS COVERED?
• Buildings
• Contents, including those in a basement
• Additional living expenses
• Debris removal
• Property relocation to a safe area

“We’re happy to be able to offer a product like this to our customers!” said Arnoldy.

Talk with your Marshfield Insurance agent today to learn more about Inland Flood coverage: 715-387-4443!

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