W ith an active hurricane season underway, now is not the time to learn the hard way – or rather the wet way – that your property insurance doesn’t cover property damage caused by floods. The National Oceanic and Atmospheric Administration (NOAA) has predicted an above- normal 2020 Atlantic hurricane season, which officially began June 1. With an increase in number and severity of hurricanes and major storms comes the danger of severe flooding – and not just in federally designated, high-risk flood zones. According to the Federal Emergency Management Agency (FEMA), more than 40% of flood claims submitted between 2014 and 2018 have come from outside high-risk flood areas. No matter where you live, it’s important to understand the flood risk and what it can cost you, says Germania General Agency (GGA) Underwriter and Flood Specialist Heather Alexander. “Don’t wait until there’s an approaching threat to get coverage,” Alexander said. “Unless flood insurance is required by your mortgage lender, there is anywhere from a 15- to 30-day waiting period for coverage to take effect.”
Shopping shingles: Spotting the differences between three-tab and architectural shingles
As the most popular roof shingle type for homeowners, asphalt shingles are affordable, readily available, and come in a variety of colors and styles. The two most common asphalt shingles offered in residential roofing are three-tab shingles and architectural shingles. The latter provides higher-quality and longer-lasting protection from weather elements. Germania recently introduced revised ratings for asphalt shingle roofs to better serve policyholders who choose the architectural shingles. It’s easy to spot the differences between the widely popular three-tab shingles and architectural style shingles. Three-tab shingles are your more basic and less expensive roof shingles easily recognized by their uniform, one- dimensional pattern. They are often referred to as “three-tab,” because each individual shingle contains three tabs that install completely flat on the roof. Architectural shingles – also known as dimensional or laminate shingles – are more durable and last longer than three-tab shingles. Although architectural shingles come in a variety of colors and styles, they are all made of two shingle strips laminated together, giving them a more dimensional base than the flat, three-tab shingle. While architectural shingles typically cost more than their three-tab counterparts, they help maintain or even raise the value of a home if properly installed. This type of shingle is becoming more popular in the roofing market, prompting Germania to acknowledge its value and prevalence among its policyholders. Policyholders can view their roof type classification located on the declaration page of their policy. Contact your agent if you have recently replaced your roof or have architectural shingles to ensure your home is insured to the correct value with the best available pricing.
GGA, a subsidiary of Germania Farm Mutual, adds value to Germania and its agency force by providing access to additional insurance products and services, including flood insurance. Staffed with flood insurance experts, GGA is also able to assist agents and insureds with the claims process in the event of a catastrophic event. A basic property insurance policy may pay for water damage inside your house, such as a burst pipe, but will usually not cover the peril of flooding from rising waters. Flood insurance must be purchased separately to cover your home and its contents in the event of a flood. Speak with your agent or contact GGA directly at flood@germaniainsurance.com or 979-277-7087 to request a quote today.
Summer 2020 | 5
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