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Deluxe Insurance Group

4515 E Superior St
Duluth, MN 55804

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How Do Flood Insurance and Flood Endorsements Differ From Each Other?

Deluxe Insurance Group in Duluth, MN can help residents with many different types of insurance, including home insurance and flood insurance. One of the questions that we are often asked is how flood insurance and flood endorsements differ from each other, and which is ideal for homeowners to have when it comes to flooding and insurance.

Here are the differences and similarities between flood insurance and flood endorsements:

What Is a Flood Endorsement? 

A flood endorsement is essentially an extension of your existing home insurance policy that states that the policy will cover floods. Most home insurance policies preclude flooding unless you have this type of extension on the policy. 

What is Flood Insurance? 

The majority of home insurance policies preclude flooding from their policies. As such, most homeowners need to purchase a separate flood insurance policy. Flood insurance helps to protect your home and your belongings against flooding that can occur due to heavy rains. If your home insurance policy precludes flooding and you do not have a separate flood endorsement, you must purchase a flood insurance policy or you are not covered in the event flooding occurs. 

Is a Flood Endorsement or Flood Insurance Better? 

Both flood endorsements and flood insurance help to protect against flooding. And there are pros and cons to both options. However, not every insurance company offers flood endorsements for their home insurance policies. If yours does not, flood insurance is the best way to protect your home and belongings against flooding. 

If you are looking for a homeowners insurance policy with a flood endorsement, or you are looking for a standalone flood insurance policy, Deluxe Insurance Group, serving the greater Duluth, MN area, can help you. Reach out to us today and let us help you find the right insurance products for your needs. 

Life In A Flood Zone: What You Can Do To Protect Your Home

If you live in an area prone to flooding, it’s important that your home is fully protected. In addition to having a rock-solid flood insurance policy, you’ll also want to take steps to physically protect your property in the event of a flood. 

Consider Raising Your Home

Talk with a contractor about whether it’s possible to raise your home off the ground. Doing so can lower the risk that your home and belongings will be damaged in the event of a flood (and can provide you with ample parking). 

Grade Your Lawn

Discuss changing the grade of your lawn with your landscaper. If your lawn tilts toward your home, excess rainwater will pool around the foundation of your house. Changing the grade of your lawn so that it tilts away from your home can make it easier for rainwater to drain away in the event of a flood. 

Leave Space Between Your Home and Mulch

Resist the temptation to put mulch right up against your home. If you live in an area known for its wet weather, it’s likely that your mulch will be wet or damp often. Mulch that is not dry and pressed against the side of your home can cause mold to form in your siding, resulting in damage to your home.

Reach Out To Deluxe Insurance Group (Duluth), Serving Duluth MN For Your Flood Insurance Needs

If your home is in a flood zone, it’s important that you have flood insurance to protect your home and assets. Reach out to Deluxe Insurance Group (Duluth) serving Duluth, MN for all your flood insurance needs. 

Why Should I Have Flood Insurance?

When people decide to protect their homes through insurance, the first thing that comes to mind is homeowner’s insurance. However, the biggest challenge is that most people assume that flood insurance is covered under home insurance, which is not the case. Flood insurance comes in handy, especially for people living in flood-prone areas. Deluxe Insurance Group (Duluth) in Duluth, MN explains why you should consider flood insurance.

Protecting the Structural Damage to Your Home

Structural coverage deals with the structure of one’s home, including essential elements like the HVAC unit and electrical wiring. Floods have been known to cause significant damage, almost crippling one’s financial status. The water damages the flooring and walls and leads to the growth of mold. In severe circumstances, it can create cracks in the foundation, putting your home at risk. Flood insurance helps cover the cost of repairing your home. This includes components like electrical rewiring or replacing drywall.

Protect Your Property

Your personal property is likely to get damaged by water when your home floods. With content coverage, your insurance company will help replace any content you have lost. This includes the furniture that you cannot salvage and electrical gadgets that get ruined by water. However, confirm with your insurance agent what your particular policy covers. For instance, you may have limited coverage when it comes to some valuable items like a family heirloom. Confirming this ahead of time will help you decide if you need to buy additional coverage.

Considering that even an inch of water in your home can cause significant damage, most homes are not entirely safe from flooding. However, purchasing flood insurance is what makes the difference between recovering from a flood and a financial setback. Residents of Duluth, MN, looking to protect themselves, can reach out to Deluxe Insurance Group (Duluth). Our skilled agents will help ensure that your home is adequately protected, giving you peace of mind.

Do all people in Duluth need flood insurance?

The Duluth, MN area can be a fun place to live. The proximity to various lakes in the area can make it fun in both the summer and winter months of the year. For property owners here, one potential risk that they should mitigate against is the risk of flood damage. There are a few reasons that property owners in this area of the state should obtain a flood insurance policy.

Insurance Gives Coverage for Flood Damage

A key reason to get a flood insurance plan is that it is needed to mitigate the potential risks that come with flood damage properly. When you get a flood insurance plan in this area of the state, it will ensure that you have protection to repair your home if a flood occurs. In many cases, you may find that your base home coverage does not provide ample coverage to mitigate this risk.

Some Mortgage Lenders require insurance.

You will also want to get a flood insurance plan as your mortgage lender could require it. Many mortgage providers today require that people in a FEMA flood zone get additional flood insurance. If you are in a flood zone, the lender will likely want to approve your policy and escrow for payments. 

There continue to be scenarios when having flood coverage is a good idea and even a requirement. As you are shopping for a new policy for your home in the Duluth, MN area, you should speak with the Deluxe Insurance Group team. Picking insurance for flood coverage can be complicated, and the team here can make it easier. Deluxe Insurance Group would carefully assess your situation and ensure that you understand all of your needs and options when selecting a plan. 

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