Flood Insurance

Flood insurance is available to protect homes, condominiums, apartments and non-residential buildings, including commercial structures.

Floods are the most common form of natural disaster. In fact, 80% of all the Presidential declared disasters involve flooding. Homes located in a high-risk zone have a 26% chance of being flooded during the life of a 30-year mortgage compared with only a 4% chance of having a fire, yet almost nobody hesitates to get fire insurance.

I’m not in a high - risk flood zone!

This is a common response, but the fact is that, when the community belongs to the National Flood Insurance Program (NFIP), the entire community has been mapped and assigned flood zones, from the highest mountain to the lowest valley. The zones indicate high, moderate, or minimal flood risk. What most people mean by this is that they are not in a high-risk flood zone.

NFIP history has shown that nearly 25% of all losses paid have been for buildings outside the high-risk flood zones. For people who don’t carry flood insurance, their only assistance will come in the form of a loan. The average duration of a Small Business Administration (SBA) disaster home loan is 20 years and the monthly repayment amount for a $50,000 loan is approximately $320. But the good news is homeowners in moderate and low-risk flood zones are eligible for discounted flood insurance under the Preferred Risk Policy. This policy provides building and contents coverage starting at just over $100 a year.

Before a community is eligible for disaster assistance, it must be declared a Federal disaster area. Federal disaster declarations are awarded in less than 50% of flooding incidents, and most forms of assistance are loans that must be paid back with interest.

Legere Insurance can provide an insurance program specifically designed to meet your needs and budget.

To learn more about flood insurance, we invite you to contact our office during normal business hours to speak to a representative. Our local telephone number is (978) 534-8329 or toll free at (800) 348-7779.

If you have a policy currently written through another company or agent, simply fax us the current Flood Insurance Declarations Page of your policy and we will get back to you with a quote. Our fax number is (978) 534-7012.

Should you prefer to contact us by email to express your interest in obtaining a quote for flood insurance, please include your name, telephone number and a best time to call in your email to us at info@legereins.com