Hurricane Season Began June 1st, Are You at Risk from Storm Surge?

According to a recent study published by CoreLogic, it comes as no big surprise that Florida is ranked No. 1 in properties at risk to flood and storm surge with over $386 billion in exposure. Unfortunately, most consumers are either underinsured or completely uninsured for this potentially catastrophic hazard.

Flooding is defined by the government as the overflow of inland or tidal waters - including storm surge, mudflow or rising water from an outside source, such as rapid accumulation from a rainstorm. You can most likely secure standard flood coverage through the National Flood Insurance Program for up to $250,000 in building and $100,000 in contents coverage. Unfortunately, the Federal program does not offer sufficient coverage to adequately protect luxury homes and personal property in catastrophe exposed coastal areas.

Surprisingly many property owners and even some insurance brokers aren't aware that higher limits of flood coverage may potentially be secured through an excess flood insurance policy. Excess flood policies allow homeowners to purchase flood coverage up to 100 percent of the value of their residence and personal property. Hurricane Sandy, a category 1 storm created a 12 foot storm surge and caused approximately $50 billion in losses. What would the resulting damage be from a category 4 or 5 Hurricane?

Licensed nationally, Celedinas Insurance Group has a profound understanding of the complicated Florida insurance marketplace and the unique challenges associated with protecting assets in catastrophe-prone areas. Unlike most insurance brokers, we provide clients direct access to all the major insurance companies that specialize in insuring affluent clientele, including ACE Private Risk, AIG Private Client Group, Chubb, Fireman's Fund and PURE High Net Worth. This rare and competitive advantage allows us to remain completely transparent, objective and unbiased, always acting in the best interest of our clients and their families. Our confidential Private Risk Management Review will allow you to compare your current insurance program with the most comprehensive and cost effective programs available in the marketplace. Call Celedinas Insurance Group today at 855-235-3346 to ensure that your home and assets are adequately protected against flood, storm surge and other hazards.

SOURCE: BUSINESS WIRE