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Why You Need Flood Insurance

Why you need flood insurance - town flooded

You certainly don’t have to live in a coastal area to be affected by flooding. Anyone who owns a home near a body of water, including lakes and streams, is vulnerable. In addition, if your community is experiencing overbuilding, dealing with an antiquated sewer system or has severe weather, you’re also at an increased risk of flooding. Floods are the nation’s most common and costly natural disaster, causing millions of dollars in damage annually.

How can you lessen your risk? Flood insurance is a particularly valuable option, especially because homeowners and renters policies typically do not cover flood damage.

A smart choice

It doesn’t take a national disaster declaration for flood insurance to be used. When you consider that just 1 inch of water in your home could cause more than $25,000 in damages, the benefit of having flood insurance is well worth the cost of the policy.

What exactly is flood insurance? It’s a special policy that is purchased separately from your home insurance policy.

It will cover damage from overflow of inland or tidal water, unusual and rapid accumulation or runoff of surface waters from any source and mudflow. Simply put, direct physical damage to your home or your belongings as a result of a flood is covered. For example, damages caused by a sewer backup are covered if the backup is a direct result of flooding. If, however, it’s caused by another problem, the damages are not covered.

Flood insurance is an absolute must if you live near a body of water. Even if you don’t, it’s still an important safeguard, as heavy rains, overbuilding and outdated sewer systems can make flooding a problem just about anywhere.

Flood insurance is a smart option to protect against financial damage to your home and valuables. To purchase flood insurance, contact your insurance broker.