Flood Insurance Quotes
Home Flood Insurance or Flood Insurance for Condominiums

Anywhere it rains, it can flood. Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Just a few inches of water from a flood can cause tens of thousands of dollars in damage. Over the past 10 years, the average flood claim has amounted to over $33,000. Home flood insurance is the best way to protect yourself from devastating financial loss.

Homeowners and Property Owners! Protect your property by getting free flood insurance quotes from Salvador & Melendez Insurance Agency.

Flood Insurance in Chicago & Nationwide

Since standard homeowners insurance doesn’t cover flooding, it’s important to have protection from floods for your home or condominium. Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers, and the property's flood risk.

The Chicago Flood Insurance Rate Map

To identify a community’s flood risk, FEMA conducts a Flood Insurance Study. The study includes statistical data for river flow, storm tides, hydrologic/hydraulic analyses, and rainfall and topographic surveys. FEMA uses this data to create the flood hazard maps that outline your community’s different flood risk areas.

Your flood insurance premium is based on your home's flood zone, using the data from the flood insurance rate map. The lower the degree of risk, the lower the flood insurance premium.

High-risk areas have at least a 1% annual chance of flooding (according to the Chicago Flood Insurance Rate Map), which equates to a 26% chance of flooding over the life of a 30-year mortgage. In moderate-to-low risk areas, the risk of being flooded is reduced, but not completely removed.