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Noyes, Hall & Allen Blog

A long, wet summer

August 18th, 2008     Noyes Hall & Allen


Maine has weathered one of our wettest summers in 20 years. Several storms have dumped more than an inch of rain each, causing flash flooding in various locations, washing out roads, and causing traffic accidents and property damage. This follows one of our snowiest winters, which caused massive flooding in northern Aroostook County

Unfortunately, many people find out the hard way that Maine homeowners insurance, business property insurance and condo insurance policies  do not cover flood damage. The only provider for flood coverage in the U.S. is The National Flood Insurance Program (NFIP). The product is sold by nearly every Maine insurance agency.

As many Mainers learned this summer, you don’t have to live next to a body of water to suffer from flooding. NFIP says that 25% of flood claims come from “low to moderate risk areas.” Take a look at this video taken on Stevens Avenue in Portland taken earlier this month.

Keep in mind that Stevens runs along a plain that sits 100’ above sea level, and miles from a body of water.

For those in special hazard zones, flood coverage can be expensive – often more than homeowners policies. Lenders usually require homeowners to purchase this coverage. Outside of these special hazard zones, the cost of flood coverage is much less – often as little as $200 per year.

For more information, contact your agent at Noyes Hall & Allen Insurance at 207-799-5541.

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