Flood Protection for Texas
Since standard homeowners insurance doesn’t cover flooding, it’s important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.
In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding. Find out more about the NFIP and how it can help you protect yourself.
Learn about The NFIP Partnership.
Flood insurance protects two types of insurable property: building and contents. The first covers your building, the latter covers your possessions; neither covers the land they occupy.
Building coverage includes:
The insured building and its foundation
The electrical and plumbing system
Central air conditioning equipment, furnaces, and water heaters
Refrigerators, cooking stoves, and built-in appliances such as dishwashers
Permanently installed carpeting over unfinished flooring
Contents coverage includes:
Clothing, furniture, and electronic equipment
Portable and window air conditioners
Portable microwaves and dishwashers
Carpeting that is not already included in property coverage
Clothing washers and dryers
The two most common reimbursement methods for flood claims are : Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to within 80% of the buildings replacement cost.
All other buildings and personal property (i.e. contents) are valued at ACV. The ACV is the RCV at the time of loss minus physical depreciation. Personal property is always valued using the ACV
Content provided by FloodSmart.gov.
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Billy Martin Insurance is located at 2032 Republic Dr, Tyler, Texas 75701. We are open Monday through Friday from 8 am until 5 pm. One of our staff will be happy to speak with you and find the best fit for your insurance needs. Billy Martin Insurance has been a part of Smith County in Tyler, Texas since 1956. We continue to serve the greater East Texas area with the same values and integrity as the day our doors were opened.
If you are new to the Tyler, Texas area or have lived in Smith County all your life come by and talk to our helpful staff for all of your insurance needs. We understand the insurance needs of life in East Texas because we live right here.
Billy Martin Insurance is an Independent agent, which means we have numerous companies to select the best insurance available for your specific needs. This allows you to shop around and stay with one agent right here in Tyler, Texas.
So, whether you need Home, Auto, Commercial, Workers Comp, or any other insurance needs, come by or give us a call!
or call 903.581.8191
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If you experiance any problem contacting us dial 903.218.7964
Billy R. Martin Insurance
2032 Republic Drive
Tyler, TX 75701
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