Colorado floods, Sandy, Irene, what have we learned?
Tuesday, October 8, 2013 • 9:32am
I was chatting with my neighbor yesterday about the weather, how the kids were doing after the new school year began, and somehow the Colorado floods came up into the conversation. My neighbor has family that lives in the affected area. Knowing his family wasn’t covered by flood insurance, and knowing what I do for a living, he said, “Let me ask you a question, when is it too late to get flood insurance?”
He almost seemed shy to ask, but I thought it was a great question and very relevant. We don’t live in Colorado, but what about Irene? What about Sandy? We’ve been hit pretty hard in the span of just a few years. These are the questions we need to ask ourselves proactively to prepare and protect our families.
My answer to that is typically there is a 30 day waiting period. In some cases, like closings and refinances where a third party is involved, that 30 day waiting period can be waived. But typically, 30 days before the flood you would have needed to purchase flood insurance.
He asked a great question, a question I felt was worthy enough of being shared in the column. Here are some other points you may want to consider:
Floods are the #1 natural disaster in the U.S.
Losses total more than a billion dollars a year.
The average flood loss is $48,000.
Just an inch of water can cause damage to your property.
Everyone lives in a flood zone.
Floods and flash floods happen in all 50 states.
Nearly 25% of all flood losses occur in low-to moderate-risk zones.
You can buy flood insurance no matter what your flood risk is.
- Flood damage is not covered by homeowner’s policies.
- Flood insurance is affordable.
Colorado breaks my heart, just like Irene and Sandy broke my heart. I know how many people in our state were desperately calling me for coverage as Sandy was unfolding, and it deeply saddens me that I can’t help those who waited. I’m always mobile, setting up stations, serving, but I can’t get you a policy as super storms and/or floodings are taking place. You must have the insurance 30 days before.
If we have learned anything from these natural disasters it is don’t be left out in the rain, with no coverage. It is truly a devastating place to be left standing after the storm.
To be sure you have the right coverage, feel free to call me, Nelson, personally at 908.233.6300. Stacey, Mike, Chris, and Sylvana are also here Allstate-The Espeland Group. We don’t have voicemail during the day for a very important reason; so that you will always get an agent who is ready and eager to answer your questions, guaranteed!
Our family has partnered with Allstate for over 80 years to help people with their auto, home, life and business insurance needs. Our quality, service-oriented agency is not only owned and operated by a family, our customers tell us we make them feel like family too. I’m proud to work with a company who’s been serving satisfied customers for over 70 years. Customers count on outstanding financial strength and superior claims service to help protect what they value most. Allstate delivers on their promise. In fact, their outstanding financial strength and superior claims service received an A+ (Superior) rating by A.M. Best. Quality service, strength and satisfaction – that’s something I’m glad to be a part of. - Nelson Espeland III
The opinions expressed herein are the writer's alone, and do not reflect the opinions of TheAlternativePress.com or anyone who works for TheAlternativePress.com. TheAlternativePress.com is not responsible for the accuracy of any of the information supplied by the writer.