Three major myths about flood insurance mean you could be taking an unnecessary risk.
The first is that flood insurance is only needed for people living in designated flood zones. In reality, flooding is a potential risk everywhere and the damage can be devastating.
Use the yellow hot spots and explore how flood insurance can help protect against common risks.
Covers damage to the walls of your foundation, staircases, and anchorage systems.
Protects detached garages from flood damage resulting from a covered event.
Protects you if a flood causes electrical or plumbing damage.
Covers damage to permanently installed appliances and cabinetry.
Protects from damage to couches, tables, beds, and other furniture.
Covers damage to home electronics and some mobile appliances such as washers, dryers, and microwaves.
Protects your clothing from flood water damage.
Another myth is that homeowners insurance automatically includes flood insurance. In reality, that is usually not the norm, and you should always assume you aren’t covered unless your homeowners policy specifically says otherwise.
The third myth is that government programs have taken care of flood insurance. There is a National Flood Insurance Program that guarantees the availability of insurance in specific areas. However, this only covers a tiny percentage of American homes.
For most homeowners, floods are a low-likelihood but high-cost risk. If you are hit by flooding you could lose many or most of your personal possessions, face major reconstruction work, and be left homeless for months while your property is made habitable again. In most cases, not having flood insurance is a chance you simply can’t afford to take.
Contact us and we’ll help explain the benefits of obtaining a separate flood insurance policy.