Waterline Renewal Technologies

When it Rains, it May Flood: Insurance for Ohio Homeowners


One of the best ways to protect your home or business from flooding is to have flood insurance. According to the National Flood Insurance Program (NFIP), in high-risk areas, there is at least a one in four chance of flooding during a 30-year mortgage. In moderate-to-low risk areas, the risk of being flooded is reduced, but not completely removed. These areas submit more than 20 percent of NFIP claims and receive one-third of disaster assistance for flooding. Since standard homeowners insurance does not cover flooding, it is important to have protection from the floods associated with heavy rains, rapid snow melt, (residual) hurricanes, and other conditions that impact Ohio. Most Ohio communities qualify for the NFIP. According to FEMA, approximately 280,000 structures are located in Ohio’s mapped floodplain areas with a value of $11 billion. About 10 percent of these structures are protected by flood insurance. As of this year, the average flood insurance premium in Ohio is $915 annually, compared to $707, nationally. Typically, there is a 30-day waiting period from date-of-purchase before your flood insurance policy goes into effect, although, there may be exceptions.  Homes can be insured up to $250,000; furnishings and contents coverage is available up to $100,000. Commercial (business) coverage is available up to $500,000.

Cincinnati/ Columbus, Perma-liner Industries has some exciting information that must be shared now as time is of the essence! It’s the Section 179 Deduction. This allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. Still reading this?? Give us a call so we can offer you our very best products and services now.  1-866-336-2568/ www.perma-liner.com.