According to Ohio Emergency Management Directors, flooding is among central Ohio’s most significant risks. Most communities in Ohio participate in the National Flood Insurance Program as homeowners and renters insurance policies don’t cover flood damage.
Sean Grady, director of the Licking County Office of Homeland Security and Emergency Management, states that “you could be living on the side of a hill, and there’s the potential for mudslides. You start looking at the potential for all the bad things that can happen to you. It can definitely keep you awake at night.”
Is Flood Insurance a Legal Requirement?
In summary, yes, you need flood insurance in Lancaster, Ohio. Now, most will ask, “Is flood insurance a legal requirement?” It depends…
According to Ohio.gov, Congress has mandated federally regulated or insured lenders to require flood insurance on properties located in areas at high risk of flooding. This also depends on your mortgage lender. They may still require you to have flood insurance even if your home or private property is not located in Ohio’s high-risk flood area.
Since flood insurance is not included in a standard property insurance policy, it’s common to have a 30-day waiting period from the date of purchase until a flood insurance policy goes into effect.
How Much Does Flood Insurance Cost in Lancaster Ohio?
As stated above, flood insurance must be purchased separately. As of February 2021, Ohio’s average flood insurance premium is $1,116 annually, compared to $697 nationally. Unfortunately, this means that flood insurance in Ohio comes at another extra cost.
But, there’s good news! Bill Palmer Insurance offers prompt quotes for both new and existing clients, and we serve Lancaster, Logan, and Canal Winchester areas.
Did you know that a flooding event has impacted 98% of U.S. counties?
Having flood insurance for your home in central Ohio can be a relief, but there are still a few essential steps to take if your property has been affected by a flood. It’s critical to take photos of any damage caused by a flood. This can include photos of personal belongings such as clothing, furniture, and appliances.
It’s also important to have a safety plan for your family and pets to evacuate if needed. And as usual, try to stay informed and alert. Before any storm hits, please keep track of it and follow any local emergency instructions.
Protect your Ohio home with premium Home Owners and Flood Insurance. Our team in Lancaster, Ohio, includes several leading insurance carriers, working together to offer our clients the most competitive rates and comprehensive protection for flood insurance.
Give us a call today: 740-687-5733
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