Are there any exceptions to the waiting period after purchasing flood insurance?

There are many properties in Richardson, TX, that have a higher-than-average risk of flooding within the next 30 years. If you live in the area, you may be considering whether you should get flood insurance. Collum Insurance Group LLC can help you evaluate your risk and compare policies, so you can make an informed decision.

You Have To Wait Up To 30 Days Before Using Flood Insurance

No matter what kind of flood insurance you buy, there is usually a waiting period. Federal policies normally make you wait for 30 days, while the waiting period for a private policy is usually about two weeks.  

That means that you cannot wait until you see a storm coming or until there is actually a flood before you purchase flood insurance. There are some exceptions to this rule.

Exceptions To the Waiting Period

 There are some exceptions to the waiting period. You can have the waiting period waived if:

  • If you purchase flood insurance to meet the requirements of a loan or mortgage, you will not need to wait. There are some lenders who require flood insurance because an area is considered at higher risk. 
  • If you add to or extend your flood insurance because of a lender requirement.
  • A reassessment of your home’s location puts your home into a higher risk zone.
  • Damage from wildfires can increase flood risks. If your home is on land recently damaged by wildfires, you can waive the waiting period.

Call To Discuss Your Options

If you live in Richarson, TX, you may end up experiencing a flood. If you would like to discuss your options or if you have any questions about flood insurance, please feel free to call Collum Insurance Group LLC today.

How Preparing for a Flood Can Help Minimize Damage

As hurricane season approaches, preparing for a possible flood becomes important. Our team at Collum Insurance Group LLC in Richardson, TX have created the following flood preparation guide to help minimize flood damage.

Flood Preparations

If your property is prone to flooding, consider the following suggestions. But note –

  • Flood insurance usually has a waiting period before it becomes effective, so it can’t be bought last minute.
  • When authorities issue evacuation orders, it is essential to follow these safety orders.

Stay Informed

Fortunately, technology has made great strides in predicting the location of catastrophic weather events. Stay informed of local forecasts. Sign up for emergency alerts.

Develop An Emergency Plan & Flood Emergency Kit

Your emergency plan should include, at a minimum, the following –

  • Evacuation routes.
  • A Designated Meeting Place.
  • Emergency Services Contact Info.

The flood emergency kit should be easily accessible and include the following –

  • Food
  • Water
  • Medications
  • First Aid Supplies
  • Flashlights
  • Batteries
  • A Battery-Powered Radio, etc.

Safeguard Important Documents & Move Valuables to Higher Ground

Store important documents – financial records, IDs, and insurance papers in a waterproof container. Consider making digital copies. Relocate valuable possessions to higher floors.

Clear Gutters & Drains

Regularly clean gutters and downspouts, reducing the chance of water backing up.

Secure Outdoor Items

Outdoor equipment and furniture should be either secured or moved to higher ground.

Know Your Flood Risk – Obtain Flood Insurance

Determine if your property is within a federally designated flood zone. Understand the property’s elevation to assess risk. And a traditional homeowners policy does NOT cover flood damage.

Contact a Leading Richardson, TX Insurance Company Today

The licensed insurance representatives at Collum Insurance Group LLC can provide information on available flood policies. We are happy to help!

Tips for Preventing Flood Damage

One of the scariest things about living in a flood-prone area is the knowledge that a sudden downpour or storm could cause devastating damage. Collum Insurance Group LLC in Richardson, TX  is here to navigate you through the flood insurance coverage. While equipping yourself with flood insurance, you can also take some steps to better protect your belongings.

Here are some essential tips to prevent and prepare for flood damage:

Flood Protection Devices

Flood damage occurs when a sudden heavy downpour causes water to damage your home, possessions, and everything you’ve worked for. Flood protection devices in your basement can prevent this damage. Some flood prevention devices include:

– Flood protection walls

– Rainwater tanks

– Basement watertight doors

Raise Electrical Systems and Appliances

You can prevent flood damage by increasing the height of electrical system parts, such as switches and sockets. Your appliances and electronics are also at risk. Check them to ensure they are safe above the level of a flood surge by placing them on high furniture or surface cabinets.

Keep Drainage Elements Clean

Gutters, splash pads, and downspouts should be cleaned regularly. Also, keep storm drains and ditches clear of debris. If you can, do a clean-up before a heavy storm. Also, use flood barrier devices such as sandbags or flood gates ahead of time.

Get Flood Insurance

When a storm hits, it’s essential to be prepared. This means knowing what to do if your home floods and keeping your family safe. Follow these three steps, and you’ll be well on preventing flood damage.

Floods in Texas are nothing new, but that doesn’t mean you’re on your own when one hits. With flood insurance from Collum Insurance Group LLC in Richardson, TX, you can get the protection you need to help protect your home and your finances. Contact us today to learn more about how you can get a quote on the coverage you need.

Essential Tools for Flood Zone Protection

Floods usually strike without warning. Even in areas where they are rare, they can still happen. If you reside in Richardson, TX, you should consider getting flood insurance from Collum Insurance Group LLC. Why? Standard homeowner’s insurance doesn’t cover flood damage. That’s why flood insurance is essential for your home.

Flood insurance can save you from incurring the hefty costs of repairing and rebuilding your home after a flood. But here are some tools you can use to protect your home from floods before they happen.

Flood Sensors

Installing a flood detection system will ensure you’re alerted about even the tiniest of leaks in your home. Detecting these small leaks early can help you stop them before they cause substantial damage, saving you lots of money.

Battery-Powered Sump Pumps

A sump pump is a useful device that can pump and drive water away from your home in the event of a flood. Sump pumps are typically incorporated into the home’s electrical system. However, you’ll ideally want to get a battery-powered sump pump. So that if the power goes out during a flood, the pump will continue to function until the power returns.

Flood Resistant Doors

Doors are usually the most common entry point for floodwater. Therefore, investing in a flood-resistant door can prove to be an excellent first line of defense against floods. Alternatively, you can line the base of your door with duct tape to prevent floodwater from getting into your home. While installing flood-resistant doors is a more effective way to prevent floodwater from getting into your home, lining your doors with duct tape is far less costly.

Purchasing Flood Insurance

If you’ve done the things listed above, flood water is less likely to enter your home. But, it’s still advisable for you to get flood insurance. If you’re interested in taking out a policy, and you live in Richardson, TX, contact Collum Insurance Group LLC or visit our website to learn more about flood insurance.

3 Tips for Buying Flood Insurance in Texas

Flooding happens in Texas, and it’s up to you to be prepared.

Did you know that your standard homeowner’s insurance policy does not cover flooding? In fact, flood insurance is an entirely different policy and one that you need to have maximum coverage in the event of a flood. If you think it’s more of a hassle than what it’s worth, consider losing everything compared to paying a small premium for peace of mind and investment in your future. Purchasing flood insurance is a simple and straightforward process that the agents at Collum Insurance Group LLC in Richardson, TX can help you with. In the meantime, we’ve outlined three tips below to help you know what to expect when you give us a call.

1. You’re Working with a Reputable Agent

All of our agents at Collum Insurance Group LLC are knowledgeable, friendly, and reputable. They are here to take your call and answer all your questions and concerns. In fact, you’ll want to utilize their services to make the next two steps go smoothly.

2. Compare Many Quotes

You and your agent will pinpoint a few quotes for you to compare after learning your flood insurance needs and budget. From here, you can choose one that you’re happy with before moving on to the next step.

3. Bundle Your Policies

Once you’ve chosen the right flood insurance policy, you can see about bundling all of your other policies – life, auto, homeowner’s – under one insurance company. This gives you a discount on your insurance premiums.

Ready to purchase flood insurance? If so, contact our team, serving the Richardson, TX area, to get started today.