Why Flood Insurance is Essential

Think you don’t need flood insurance? Perhaps you don’t live near water, or maybe you have a great homeowners policy. The truth is, every home is at risk of flooding. Before passing on flood coverage, here are five things you should know.

Five Things You Need to Know

1. Every home is in a flood zone.
According to the National Flood Insurance Program (NFIP), nearly 20% of all flood insurance claims are made by homeowners living in areas considered a low risk for a flood. That means regardless of whether your mortgage company required you to purchase flood insurance, your home is at risk for flooding.                 

2. No homeowners insurance policy covers flooding.
It’s a common misconception that homeowners insurance covers flood damage, but the truth is only flood insurance covers flood damage. Without it, the cost of the damage comes out of your pocket.

3. You can’t rely on the federal government to pay for flood damage.
Federal assistance is only available if the president declares an area a disaster. Even then, the assistance is not compensation for your losses, but rather a low-interest loan that requires repayment with interest, along with your mortgage.

4. Flood losses are costly.
Most people don’t realize that just a few inches of floodwater can do thousands of dollars worth of damage. In a 2,000 square foot home, one inch of water can cause as much as $27,000 or more in damage to your home and its contents.

5. Flood polices are affordable.
AAA can help protect your home with rates starting at less than $1 per day.* In 2017 the average amount of flood coverage was $252,261, and the average annual premium was $707.

Building Coverage Contents Coverage Annual Premium Cost Per Day
$20,000 $8,000 $183 $0.50
$30,000 $12,000 $224 $0.61
$50,000 $20,000 $290 $0.79
$75,000 $30,000 $339 $0.93
$100,000 $40,000 $374 $1.02
$125,000 $50,000 $393 $1.08
$150,000 $60,000 $418 $1.15
$200,000 $80,000 $456 $1.25
$250,000 $100,000 $482 $1.32

 

Talk with a helpful AAA Insurance Agent today about purchasing flood insurance.
Request a quote or call 877.288.4546.

Rates effective April 1, 2019. These PRP rates are for 1-4 Family Residential without a basement or enclosure. Other residential building and contents coverage combinations are available. Premium includes a 15% Reserve Fund Assessment, $25 Federal Policy Fee, Increased Cost of Compliance, and $25 HFIAA surcharge for policies covering primary residences only if the named insured’s primary residence is a single-family dwelling, an individual condominium unit, or an apartment in a non-condominium building. Add $225 to the HFIAA surcharge for all other policies. Add the $50 Probation Surcharge, if applicable. Deduct the Increased Cost of Compliance if the risk is a condominium unit.

Flood insurance purchased through AAA is underwritten by a participating insurer of the National Flood Insurance Program (NFIP). The NFIP is administered and regulated by the Federal Emergency Management Agency (FEMA).
* The full annual premium must be paid prior to policy inception. In certain circumstances, flood insurance can be canceled and a refund can be issued. For additional information about cancellation, please contact your agent. 


ALERT: Limited-time claim accommodations are being made due to the pandemic. We are pleased to announce the addition of epidemic-related covered reasons to some of our most popular insurance plans in response to COVID-19. For the most up to date information, click here: Allianz Coverage Alerts.

 

Travel Insurance

Travel insurance can be relatively inexpensive, especially when you consider how much you could lose if something goes wrong before or during your trip. Trip-cancellation, accidents, medical emergencies, illness — even lost baggage — all can quickly add up.

In todays travel environment, AAA and Allianz Travel Insurance, offer you expertise, stability and peace of mind to make your travel plans today.

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Top Reasons Travel Insurance is Used

Travel insurance can come in handy throughout your travels and even before you depart!

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When Should You Purchase Your Plan?

It's best to purchase your travel insurance through AAA when you book your trip because it gives you the most optons for coverage. Even if you didn’t book your travel with AAA, you can still add an insurance policy through us.

While it's tempting to purchase a cruise or tour operator-offered insurance plan, their benefits may not be what you need. Be sure to discuss all the options before you make a purchase decision. 

Exclusively on the AAA Mobile App for When You Travel

Find new tools and resources from Allianz in the AAA Mobile app, including a medical translator, and emergency phone numbers for hospitals and medical facilities around the world.

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Insurance coverage is underwritten by BCS Insurance Company, rated A- (Excellent) by A.M. Best Co., under BCS Form No. 52.201 or 52.401, or Jefferson Insurance Company, rated A (Excellent) by A.M. Best Co., under Jefferson Form No. 101-C-XX-01 or 101-P-XX-01, depending on the insured’s state. Allianz Global Assistance is a brand of AGA Service Company. AGA Service Company is the licensed producer and administrator of this plan and an affiliate of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage because of the affiliation between AGA Service Company and Jefferson Insurance Company.