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Your Guide to Flood Insurance in Maine and New Hampshire: What Homeowners and Renters Need to Know
Personal Insurance | Safety & Prevention | Weather
By Nina Cutter
January 8, 2024 4 minute read
Living in Maine or New Hampshire brings its own set of challenges, especially when it comes to weather. Whether you're settling into a new home or renting a place, understanding flood insurance is crucial in these changing times. Here's a friendly guide to help you navigate the world of flood insurance – making sure you’re covered when nature takes an unexpected turn.

What Exactly is Flood Insurance?

Think of flood insurance as a safety net for your property. It's different from your standard homeowner's insurance, which usually covers things like a burst pipe inside your house. Flood insurance comes into play when water from outside, like a heavy downpour or a river overflowing, enters your home. This distinction is super important because, believe it or not, just an inch of flooding can lead to damages costing around $25,000!

Why It’s Important in Our Area

In Maine and New Hampshire, the chance of floods is creeping up due to climate change. Many folks don't realize that their regular home insurance won't cover flood damage, leaving them potentially exposed to big expenses.

Clearing Up Common Misunderstandings

You might think you don’t need flood insurance if you're not living right next to a river or the ocean. However, that's not really the case. According to FEMA, a quarter of all flood claims come from areas not typically known for high flood risk. So, it's wise to consider flood insurance, no matter where your home or rental is located.

Know What's Covered

It's all about knowing what your policy covers. Flood insurance is there to help you out when large-scale flooding affects your property and the area around it. There are some specifics to be aware of, especially if you have a basement, as coverage can vary.

Time to Act

Checking out the FEMA Flood Map Service Center is a great first step to understanding your property’s risk level. For comprehensive insights on preparing for and understanding floods, especially in Maine and New Hampshire, be sure to read our detailed guide here. It's not just about the building – it’s about your possessions, too. Renters, this includes you! Your landlord's insurance usually won’t cover your stuff, so getting your own policy is a smart move.

Choosing the Right Coverage

Picking the right flood insurance means looking at your situation – how risky is your location, what you can afford, and what your lender might require if you have a mortgage. Costs can vary, and for renters, insuring your belongings is typically more budget-friendly.

In a Nutshell

No matter where you're situated in Maine or New Hampshire, it's smart to think about flood risks. Getting flood insurance is about being proactive and protecting your space and belongings from the unexpected. It's a small cost for a big peace of mind.

Staying Ahead of the Game

Lastly, besides getting insured, there are things you can do around your home or rental to lower your flood risk, like smart landscaping and keeping up with maintenance. With the right insurance and some preventative measures, you’ll be set to face whatever weather comes your way!

 

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