Don’t Be Overwhelmed by the Flood

Floods are scary, period. They are also destructive, dangerous, and expensive. Fortunately, flood insurance can help with some of those concerns, such as destroyed items and cleanup costs. Those are also a few of the reasons why Braselton, GA businesses and homeowners turn to the team at the Bingham Insurance Group to help keep their heads above water when the floodwaters rise.

Flood Damage Protection and Insurance

Some floods wipe out homes and present frightening power. These floods sneak up on us and leave thousands of dollars worth of damage in repairs and cleanup in their wake. The bottom line is that there is no such thing as a good flood, and every flood can overwhelm homeowners and businesses without the right flood insurance solutions.

We can do very little to prevent flooding, but we can prepare and take precautions. With the help of knowledgeable and helpful agents, the right flood insurance solutions can make it easier to pick up and carry on once the waters recede.

For All Your Flood Insurance Needs

The power and damage of a flood are difficult to describe, but those who have experienced flooding events appreciate and respect the harm and havoc they can cause. The good news is that we don’t have to experience floods to be better prepared for them, which is precisely what flood insurance does. 

If you live in or around Braselton, GA, and have questions about or need flood insurance, our friendly and professional team at the Bingham Insurance Group can help. Contact us to learn more and get the protection you need for all your flooding concerns today.

What is Loss of Use in Flood Insurance?

Are you looking to find a proper flood insurance plan? This is a type of insurance that works to protect you in the event of flooding. If you live in a high-risk flooding region like Texas or Georgia, then it’s recommended that you purchase an insurance plan for financial coverage. While shopping for flood insurance from Bingham Insurance Group, finding a plan that includes specific policies like loss of use is essential.

What is Loss of Use?

Loss of use is an insurance policy that pays for housing and living expenses. Water damage is corrosive, often making the home unlivable for the residents inside. Some people decide to temporarily stay in hotel rooms while waiting for renovations to take place. In the event that your house becomes uninhabitable from a flood, you’ll need enough money to pay for additional expenses as the basic plan pays for repair costs or renovation. Loss of use will come in handy for your housing needs, especially if you have living expenses that go above the regular cost of living.

While shopping for a flood insurance plan, ensure it includes loss of use as a policy. There are also other flood insurance policies to search for, like loss of belongings with furniture or home decor. 

Loss of Use Insurance in Braselton, GA

If you’re a Braselton resident looking for a flood insurance plan, you should speak to an agent with the Bingham Insurance Group. Our flood insurance coverage includes policies like loss of use and protecting our customer base from strained financial situations. If you want to hear more, contact our agency at 706-684-0040 to schedule an appointment.


How Do You Know If You’re Eligible for Flood Insurance?

Flood insurance is crucial to have in some regions of the United States. If you are concerned that your home or your place of business may be at risk for damage due to flooding, you’ll want to know if you’re eligible for flood insurance. Talk to an agent from Bingham Insurance Group of the Braselton, GA area so that you can determine what to do in your situation. 

Should You Have Flood Insurance? 

If you live in an area prone to flooding, it’s vital that you have flood insurance. If you’re in a region that is moderate or high risk for floods, you’re likely eligible for the National Flood Insurance Program. You’ll get a certain amount of coverage with this type of policy, but you may want extra coverage due to having valuables beyond this limit. You can get a policy through a private insurance carrier like Bingham Insurance Group. 

Homeowners’ Insurance Doesn’t Cover It. 

Home insurance typically won’t cover the peril of flooding. Since flood insurance isn’t mandatory, this is something you have to seek out separately. Your agent may tell you that they don’t recommend getting this policy. If your mortgage lender asks you to get flood coverage, you can bring some documentation to the insurance company so that they know exactly what to put in your policy. 

Getting flood insurance is made easy when you have a reputable and experienced independent agent on your side. Allow us at Bingham Insurance Group of Braselton, GA, and beyond to assist you with setting up the insurance you need. 

Who should carry flood insurance?

With changes that have been happening with the weather all over the country areas that have never seen a flood are in danger of seeing one. With more and more once in hundred-year floods showing up more and more people have started to wonder who should carry flood insurance. At Bingham Insurance Group in Braselton, GA, our independent agency makes sure our customers can choose from among the most reliable carriers in the business. 

Who should carry flood insurance? Anyone with even a small risk of flood damage. 

At one point in 2019 more than two-thirds of the contiguous United States was in danger of flooding and the words "rains of biblical proportions" were used to describe the condition. Combined with heavy snow in Canada and you have a recipe for disaster. 14 million people were impacted by this flooding. It is eye-opening, to say the least. 

Flood insurance is offered through the NFIP (National Flood Insurance Program) and administered by FEMA. Their policies are sold through about 60 direct service insurance carriers. In order to purchase this insurance, the community where you reside must be one of the 23,000 participating NFIP communities. If you live in a non-participating community, you still can get flood insurance through 59 WYO (Write Your Own) companies. It is still the NFIP insurance it is just written and sold using the insurance company’s branding. 

Beyond the NFIP and WHO policies, other private carriers are selling flood insurance. This private insurance offers advantages such as offering higher limits on the physical building and the content level than those allowed with the NFIP policy. They also offer loss of use coverage to help you pay for a place to stay while your home is being repaired. One disadvantage is the insurer can cancel your policy if they feel the risk is too great, NFIP insurance can’t do that. 

Contact Bingham Insurance Group in Braselton, GA for all your insurance needs. 

Pros and Cons of Private Flood Insurance

Private flood insurance is an alternative to flood insurance offered by the Federal Flood Insurance Program (NFIP) for properties (both commercial and residential). In the US marketplace in 2019, private flood insurance represented over 30% of all private direct premiums in Special Flood Hazard Areas, including the city of Braselton, GA. To decide whether you need private flood insurance, it is vital to know its advantages and disadvantages. 

Advantages of Private Flood Insurance

Higher limits

One of the best advantages of private flood insurance for homeowners is that it offers higher coverage. While NFIP offers coverage up to $250,000 for the structure and up to $100,000 for personal belongings, private insurance companies offer homeowners twice that or even more. Therefore, private flood insurance is especially beneficial for properties valued above $350,000. 

Customizable Coverage

Unlike the federal program,  flood insurance offered by insurance companies can be tailored in order to fit the property. With private flood insurance, property owners have an option to add more coverage options, including coverage of damages landscaping, basement, outdoor furniture and decks, and other parts of the property that may be of value for clients. 

Faster and Easier Process

Obtaining private flood insurance is much faster and easier than NFIP.  Insurance agents are able to provide you with a quote and deliver coverage quickly and efficiently. The claim process with private insurance is also much faster and easier. 

Disadvantages of Private Flood Insurance

However, like any other type of coverage, private flood insurance has its disadvantages that you should be aware of: 

New and Untested

Private flood insurance is a relatively new and untested option that was extremely rare until 2014. For this reason, many mortgage companies might not accept private flood insurance. 

If you are searching for a policy that will match your needs perfectly, Bingham Insurance Group in Braselton, GA is ready to assist you. We personally look at every quote to make sure our clients get the right level of coverage. Contact Bingham Insurance Group today for a professional insurance consultation.

What Qualifies a Property as At Risk to Get Flood Insurance?

Of all the natural disasters, flooding is number one for insurance claims. Flooding can happen in nearly every state and for this reason, it can be a good idea to be covered. It is important to know how high risk your property may be when looking at this type of insurance. Bingham Insurance Group of Braselton, GA can work closely with you to help find out whether you live in a low or high-risk area that is more prone to flood.

Flood Zones

The most obvious way to determine the level of risk of flooding to your property is the flood zone it is in. FEMA gives lettered designations that inform this level of risk and can be helpful when talking to insurance agents about how much flood insurance you may need. While what flood zone you live in shouldn’t be the only qualifying reason for getting flood insurance, it is useful to research and know to make decisions about purchasing coverage.

Changing Factors 

Even if you do not live in a high-risk flood zone, there are other factors that can still make flooding a possibility. Over-developed areas that are improperly planned, poor drainage systems and extreme weather conditions can all contribute to the likelihood of your property flooding. If you are uncertain of these factors, researching where you live can make you better informed at your flood risk.

Most homeowners insurance policies don’t cover flooding. It is usually an additional coverage that will need to be added. Since your home is likely one of your biggest investments, it can be a wise practice to get some kind of flooding insurance. Our qualified and friendly representatives at Bingham Insurance Group of Braselton, GA will be happy to discuss your insurance needs. Stop in or give us a call to schedule an appointment today.