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Every year, millions of Americans may find themselves at a significant risk for having their basements or other parts of their homes flooded, and the damage caused by these incidents can be considerable. However, many may further find that the costs of dealing with the necessary repairs that stem from this are not covered on their standard home insurance policies, and they could be in an extremely difficult spot as a consequence. As such, insurance agents might want to take this time to remind consumers to carefully examine their plans to determine what they will - and will not - be covered for.

One place where this kind of issue may arise soon is in Ohio, where floodwaters generally tend to become prevalent around this time of year, and back up through floor drains and sump pits into homes, according to a report from the Cleveland Plain Dealer. For the most part, residents there typically do not have flood insurance at all, because it is not included in their standard coverage, but experts say that the cost of such additional flooding plans should not be prohibitive. Most have deductibles of about $1,000 but the annual price of the additional premium can be as little as $50 or as much as $200, on average.

A different type of coverage
Another kind of flooding - caused by surface water seeping into a home, such as when bodies of water overflow - requires specific flood insurance, purchased through the federal National Flood Insurance Program, the report said. These policies can be significantly more expensive at as much as $3,000 per year, depending upon the risk a home faces. However, going without could leave consumers on the hook for far greater costs.

""For any water that enters the building from the surface, you need flood insurance,"" William Gibson, a Westlake, Ohio, insurance agent, told the newspaper. ""If they don't have it, they won't be reimbursed.""

Consumers and insurance agents might want to start working together to determine the best possible course of action for each home, as finding the policies that strike the best balance between necessary coverage and affordability may go a long way toward increasing satisfaction and protecting clients when they need it most. Agents who can do this effectively may end up seeing increased customer satisfaction as well.

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