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. 


Add family members to your membership.

AAA benefits have always been worth sharing, especially with those you love. AAA makes it easy to share the same benefits that you enjoy with members of your family – simply add them to your membership as Associate members.

 When you add Associates to your membership, they’ll have membership cards of their own giving them easy access to all of their benefits. So even when you’re not with them, they’ll have AAA security and savings everywhere they go.

The dues for Associate memberships are reduced, and your spouse, another adult in the household and kids at home or away at school are all eligible.

Add Associate Members Today!

 

Give family members the benefits of membership, including:

  • AAA Roadside Assistance – Coverage in any car, anytime, anywhere – whether they’re the driver or a passenger.1
  • AAA Discounts & Rewards® – Savings two ways: get instant discounts at nearly 120,000 name-brand locations nationwide, and earn AAA Dollars towards your membership renewal when shopping online through AAA.com.2
  • Identity Theft Protection – Free daily credit report monitoring with email alerts and fraud resolution support through ProtectMyID® Essential by Experian®.
  • And much more.

Provide the peace of mind and protection that you enjoy to members of your household. Add family members to your AAA Membership today!

1 Roadside Assistance is provided by independent facilities contracted by AAA. Coverage in taxis, limousines and other ride-sharing conveyances is excluded. Visit AAA.com/MemberHandbook for details about member benefits, including any limitations or restrictions. Offers, terms, conditions and policies are subject to change without notice. Savings partners subject to change.

2 AAA Dollars offer applies to active members from participating AAA clubs. For a list of participating AAA Club codes, visit AAA.com/Dollars and click on Terms and Restrictions. Excludes Puerto Rico.

Associate memberships are available to the Primary member’s spouse, one other adult living in the household, and their children living at the same residence or away at school. Associate members must have the same type of membership as their Primary member, with the exception of Motorcycle.

Upon activation and with proper identification, AAA will provide regular AAA services and full privileges for the new member. Roadside benefits begin three days after payment of dues. Some restrictions apply.