Flooding, flooding, everywhere...

Recently the heavy rain plus a previous long winter have caused flooding all around Montana.  In order to be covered for flood, you must purchase a separate flood policy, which is a different process than all other kinds of insurance.  Flooding is not covered on a Homeowners policy.  The only water damage that's covered is sewer backup, and only if this is purchased at an extra cost and added to your policy.

Although many independent insurance agents sell flood insurance, the coverage is actually coming from a government program.  All flood insurance in the United States is purchased through this program.  The waiting period for flood insurance is 30 days, unless the bank that holds the mortgage to your home is requiring the coverage.  The policy lasts for one year, and unlike other insurance policies which you can pay on an installment basis, the government requires the policy to be paid in full at the time coverage begins.

Even though in the next few months the water will subside, flooding can be a possibility every year.   In fact, flooding is the number one natural disaster in the United States.  The damage covered by a flood policy is not only overflow from rivers and streams but also from groundwater and excessive rain.  This coverage would be valuable anytime of the year, especially if you live in low lying areas.