When to Get Flood Insurance
Insurance is one of the best ways to protect assets such as your home. And many people assume that flood damage is covered by their homeowner’s insurance, but it’s not. A separate policy is required for flood damage.
Flood coverage helps pay for damage to your home or business following a flood. Most general insurance policies do not over this coverage. Flood insurance is for anyone who owns a home in a high-risk flood area. If you live in such an area, you risk losing your home if a flood happens and you have no financial support. You can get this coverage even if you’re not in a high-risk flood zone. You need to be prepared to protect your home in any event.
If a flood causes damage to your home, then your policy will help pay for the damage. This is a benefit to people who live in an area where flood damage is likely. An insurance agent can tell you if you live in an area that is susceptible to flooding.
If you live near a body of water, then you should consider flood insurance. There’s always a possibility of flooding when you live near a large body of water.
The biggest benefit of flood insurance is financial protection. Floods can cause major damage. Homeowner’s insurance doesn’t cover flood damage. Your only option is to have flood insurance in place before a flood occurs.