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Illinois Flood Insurance

Illinois Flood Insurance Is a Crucial Investment

Find the right flood insurance policy for you.

Steve Dahl | March 18, 2020

Many people don’t realize that Illinois is considered a high-risk flood zone. In fact, Illinois residents face a significant flood risk in the springtime. The Federal Emergency Management Agency (FEMA) encourages residents of the state to purchase flood insurance before the flooding season begins because there is a 30-day waiting period before flood insurance policies take effect.

In recent years, Illinois has seen several significant floods, including 19 floods that have been classified as disasters. All residents of the state face some level of flood risk. To mitigate this risk, flood insurance is available to all homes and businesses in communities that participate in the National Flood Insurance Program (NFIP). Contact an independent insurance agent from our network to review your Illinois flood insurance options and stay financially protected when the water rises.

  • Floods are the number one natural disaster in the U.S.
  • The average flood insurance claim in recent years is $35,000.
  • During previous years, total flood insurance claims in the U.S. averaged nearly $3 billion annually.
  • In previous years, Illinois experienced 1,192 floods.
  • Some high-risk areas are more than twice as likely to be damaged by flooding than fires.
  • People who live outside high-risk flood areas file more than 20% of NFIP claims.

Floods can be very costly to homeowners. Having an Illinois flood insurance policy in place will protect you from having to personally cover the costs of repairing or replacing your home after a flood. Also, be sure to ask for Illinois flood insurance quotes to protect your belongings as well as your house. Standard flood insurance only covers the structure of your home, not the contents. Many people don’t realize they need extra protection for their belongings.

Do I Really Need Flood Insurance?

Flood insurance is always a good idea, regardless of whether or not you live in a flood zone. It only takes one or two inches of water to cause significant damage to your basement, for example. Even a relatively small amount of water in your basement can result in structural damage or the need to replace major appliances like your furnace or water heater. A local agent in our network can review Illinois flood insurance quotes with you so you can find the best policy for your situation.

Reducing Illinois Flood Insurance Costs

Most people think that their homeowners insurance policy covers floods, but in most cases, this is not true. The National Flood Insurance Program provides flood insurance to owners of houses in high-risk areas. If you have a mortgage on your home, you may even be required to purchase flood insurance. On average, a flood policy costs around $570 per year, much less than it would cost to rebuild or repair your home after a flood.

As a homeowner, you can reduce your Illinois flood insurance premiums with a few tips and upgrades. For example, if at all possible, make sure your living spaces are elevated. Be sure to check the base flood elevation rate for your area to determine how high your space should be. Having an appropriately elevated living space will help lower flood insurance premiums.

Don’t forget to elevate your utilities when you opt to elevate your home. Utilities such as the air-conditioning unit, water heater and furnace can all be elevated, which can also help you save on flood insurance premiums. Additionally, make sure your foundation has flood-water openings, so water can be drained out immediately in the event of a flood. Not only will your home be better protected in case of a flood, but flood insurance will also cost you less. 

Contact a local agent in our network for more information.

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