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Flooding in for flood insurance

"A flood policy is typically there for a catastrophic issue, not a minor issue," explains an insurance broker.

Posted: Mar 12, 2019 6:51 PM

ROCHESTER, Minn. - In the last week or two, insurance broker at Atlas Insurance Broker Bill Nystrom says a few people are calling him every day inquiring about flood insurance or how water damage is covered.

He reminds homeowners that if you buy flood insurance right now, there is a 30 day waiting period until the policy kicks in. "Today is March 12th. Their coverage might not even start until april 11th or 12th of the next month and I would guess that 90% of the snow's going to be melted by then so if that's really what they're worried about, it doesn't pay," he explains.

Nystrom explains flood insurance may cover some water damage from snow melt, depending on how severe it is, but flood policies are designed for a major catastrophic event, not necessarily snow runoff. "A flood policy is typically there for a catastrophic issue, not a minor issue and typically you can get it fixed or move the snow away from your house so it doesn't leak."

He adds that if a sump pump or sewer fails to keep up with drainage, those issues are often covered in homeowners policies.

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