The Importance of Flood Insurance

Floods happen suddenly and can be dangerous and damaging. If you own a house, you may need to consider purchasing flood insurance to protect you when the unexpected happens.

What is flood insurance?

Typically homeowners insurance does not cover damage as a result of a flood, it is one of the main exclusions. Flood insurance is a separate policy you’d have to purchase to cover costs for repairs in the event of a flood. According to the Insurance Information Institute, only 12% of American homeowners have flood insurance. To help encourage homeowners to protect their homes, FEMA introduced The National Flood Insurance Program that offers affordable flood insurance to homeowners. To find out if you qualify, click here.

What does it cover?

All flood insurance policies are different, but most cover things like the structure and foundation of your home, the plumbing and electrical systems, air conditioning, furniture, paneling and detached garages. You can also purchase policies to cover your personal belongings inside your home like electronics, clothes, jewelry and appliances.

Should I get flood insurance?

According to FEMA, 20% of flood claims are from homeowners living outside of high-risk flood zones, so you may be at risk for a flood even if you live away from a major body of water. If you live in a high-risk area, you may be mandated to purchase flood insurance as a condition of approval for your mortgage. To check if your home is in a flood zone, enter your address here.

How do I get flood insurance?

To find out if you qualify for The National Flood Insurance Program or to ask any questions, contact their help center at 1-800-427-4661. If you don’t qualify, but still need to purchase insurance, contact a local insurance agent.

Floods can be devastating. Protect your family and your home with flood insurance so you can have peace of mind that if you experience a flood, the damage will only be temporary and you’ll have the means to repair your home and replace your belongings. If you have any questions, be sure to ask your insurance agent.