While you’re searching for flood insurance in the Oro Valley, AZ area, there are probably a bunch of questions going through your head. While you’re preparing for your meeting with an insurance agent from Old Pueblo Insurance or another company, here are some important questions that you probably want to think about.<\/p>\n
This is likely the first question you have for your Old Pueblo Insurance agent, and the answer is: it depends. If you’re going to buy a house that has a federally-backed mortgage in a high-risk flood area, then it’s mandatory to buy flood insurance. On the other hand, if you’ve paid off your mortgage or inherited your house, then the choice to buy flood insurance is up to you. If your house is in an area in Oro Valley, AZ that participates in the National Flood Insurance Program, you can still buy a policy, but it will be a privacy policy and likely more expensive than a regular policy.<\/p>\n
Flood insurance protects your home from rising waters, mudflows, and inundation, which is when water covers land that’s normally dry. However, your policy won’t cover a landslide, which is when the disaster results in pieces of moving earth and debris.<\/p>\n
A homeowner is able to insure a property for up to $250,000, and the homeowner can insure the contents of his or her home for up to $100,000. However, if you own a business, the limits for your establishment and the location’s contents both go up to $500,000. According to a study from the University of Pennsylvania, half of all claims from 1980 to 2012 were for less than 10 percent of the value of a single-family house. Seven percent of claims, according to the study, were for more than 75 percent of the house’s value.<\/p>\n","protected":false},"excerpt":{"rendered":"
While you’re searching for flood insurance in the Oro Valley, AZ area, there are probably a bunch of questions going through your head. While you’re preparing for your meeting with an insurance agent from Old Pueblo Insurance or another company, here are some important questions that you probably want to think about. 1. Should I […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5,8],"class_list":["post-63","post","type-post","status-publish","format-standard","hentry","category-insurance","tag-old-pueblo-insurance","tag-oro-valley-az"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t