Spring brings many changes, and while the saying goes “April showers bring May flowers,” the truth is that in Illinois, April showers might bring a flood and a very wet basement. The worse news is that your normal home insurance policy will quite possible not cover the damage from flooding.
Illinois is a state bordered by big water on two sides, the Mississippi River and Lake Michigan, and features a number of smaller rivers within the state. This means that in many parts of the state, people are living in a flood plain. In the spring, the doubled effect of melting snow and seasonal rains results in rivers overflowing, sewers backing up, flood plains flooding and basements getting wet.
Flooding is almost never covered as part of normal homeowners’ insurance coverage, but it is often offered as an endorsement that can be added on. In fact, mortgage companies often require people buying houses in flood plains to get such an endorsement before they can get a loan. The cost is usually dependent on the value of your property and the overall risk of flooding.
Surprisingly, some insurance companies don’t even offer flood endorsements. If you live in Illinois and your insurance company doesn’t offer a flood insurance endorsement, or if you’re thinking of changing companies, you need to contact Insurance and Mortgage Services today!