Things to Consider When Buying a Home in a Flood Zone

 Finding your dream home can be so exciting, but what if that dream home is located in a flood zone? People purchase homes in flood zones all the time. Some of the most sought-after real estates are in flood zones. Here are few things to consider if you are looking to purchase a home in a flood zone.

What Type of Zone?

FEMA rates flood zones by risk factors. You will need to do your own research in order to learn all about the type of flood zone the home is located in. Some flood zones are at higher risk than others, and this will be reflected in the flood insurance you can purchase.

How Old is the Home?

The older a home is, the more at risk it will be during a flood. The Slocum Agency, Inc. in Warwick, RI can help you navigate the risk factors that your particular home has depending on how old it is and what flood zone it is located in.

Don’t Be Fooled

You may think that if a home is not required by law to have flood insurance, then there probably is not that much risk of flood. This is not the case. In many instances, a home is at great risk of flood, but flood insurance is not required. It is your responsibility as the homeowner or the home buyer to weigh out the risks involved and purchase the insurance that will best protect your investment.

Things Change

Also, do not be surprised if over time the flood zone you are in evolves. The environment is always changing, and flood zones change as well. You should be open-minded to this possibility.

If you would like to learn more about flood insurance, call our friendly staff today at The Slocum Agency, Inc. serving Warwick, RI, and surrounding areas.

Can You Add Full Coverage Boat Insurance?

A boat is a fantastic investment, and with the right insurance coverage and protection, you can have a great boat and feel confident that you are going to be able to have fun and have your boat covered. For those in the Warwick, RI area, the agents with The Slocum Agency Inc. can help you to find the right boat coverage policy every time.

What types of boat insurance can you have?

For starters, in some cases, you are going to be required to have at least liability coverage to help take care of your boat and make sure that if you are in an accident, you can help cover the bills of the person in which you are in an accident with. This means that when you are looking at buying a boat, you may want to consider where you are going to be boating and if they require insurance on it.

If you have a loan on a boat, you are going to be required to have coverage for the cost of the loan to make sure you can pay the money back in the event that the boat is totaled. You want to be able to pay back this loan and may need to be able to pay back the cost of medical bills or other bills that are associated with the accident in question. You can have liability coverage if you do not have a loan on the boat, and you can also have full coverage insurance on your boat much like you would if you were buying insurance for a car.

For those that live in the Warwick, RI area, the agents with The Slocum Agency Inc. can help you find your perfect boat policy.

How to Decide on the Right Commercial Insurance for You

Commercial insurance doesn’t have to be a puzzle for business owners if they know how to look at it. Unfortunately, too many people only see a price tag when it comes time to choose a policy. So they may assume that as long as they’re staying within their legal boundaries, they should save money by picking the least comprehensive plan. Before you make the same mistake, consider the following tips for picking the right commercial insurance plan for you. 

Threats in Warwick, RI

There are plenty of threats in Warwick, RI that owners should consider, but the key is to think about the ones that are most likely to affect you. So if you operate in a fairly bad neighborhood, you may want to protect against vandalism or criminal theft. If you store customer data on your computer systems, you may want to ensure you have enough protection to cover a cyber attack. If your windows are old or your building has seen better days, then you may want to get additional weather protection so that you don’t have to go out of business just because of a bad storm. 

Getting Help

The Slocum Agency, Inc. has been helping business owners get the insurance they need to keep their heads above water for many years. It’s our job to help you identify the most common threats in your area so you can get the help you need to stay afloat. While we always encourage people to focus on prevention as much as possible, commercial insurance is sometimes the only thing a person can turn to in a time of need. If you’re a business owner who wants to protect their livelihood, give The Slocum Agency, Inc. a call today.