4 Reasons Why Your Home Needs a Flood Insurance Policy

Florida flood insurance quote

Flooding is the most common natural disaster in the US. It’s not just the residents of high-risk areas who are at risk from floods. You might be surprised to know that a quarter of flood insurance claims come from areas that are designated as moderate-to-low-risk flood zones. Therefore, it is important to buy a flood insurance policy that safeguards your home and belongings.

In case you’re wondering whether your area falls in the high-risk or low-risk category, you can refer to FEMA’s flood zones map. FEMA categorizes geographic areas into different flood zones based on varying levels of flood risk. Right from determining flood risk to properties to deciding insurance rates, a flood insurance map serves many useful purposes.

In high-risk areas, the residents must mandatorily have flood insurance. However, even if your home is based in a low-risk area, you should consider buying a flood insurance policy. Let’s take a look at some of the key benefits of a flood insurance policy:

Unpredictable Weather

FEMA updates the flood zone map periodically. For instance, it recently released maps that enlarge flood zones in Broward County. With the release of updated Broward County flood insurance maps, many property owners may have to buy flood insurance.

FEMA uses the latest data on hurricanes, sea level and other factors to determine whether an area should be added to a risk zone or not. However, in recent decades, the weather has become increasingly unpredictable. The effects of climate change are there to see for everyone. Even the areas that have been designated as low-risk areas are becoming prone to floods. With weather changes becoming too frequent, FEMA map updates can get outdated very quickly. Therefore, it makes a lot of sense to buy a flood insurance policy.

High Cost of Repairs

You’re mistaken if you think that only a major flood can cause damage to your home. The truth is, that a small flood can also result in great damage. Even if one inch of water enters your home, it can damage your flooring, electronic appliances and so many other things. You cannot leave this to chance, and so can choose to avoid it by buying a policy that’s worth just a few hundred dollars.

As every homeowner knows, the cost of repair or reconstruction can be very high. Without adequate insurance, you may end up suffering huge financial losses. Therefore, one of the most obvious reasons to have a flood insurance policy is to protect yourself against the high cost of repairs.

Floods are Common

As mentioned in the beginning, floods are the most common natural disaster in the US. If you’re living in a high-risk zone, the chances of you experiencing a flood are far higher than those of fire. Even if your home is away from lakes and oceans, there is always a chance of a flood. At times, a flood like situation may arise due to a non-weather event such as blocked gutters.

Not Covered Under Home Insurance

Many people wrongly believe that their home insurance policy also covers flood damage. However, this is not the case. Even the most comprehensive home insurance policies usually cover only specific types of water damage. Any damage caused by pipe bursts or rainstorms is covered. However, most of the policies exclude flood damage as it becomes too costly for insurance companies. Therefore, you need to buy flood insurance separately.

Flood insurance is affordable. You can get rid of all worries pertaining to flood damage by choosing a comprehensive flood insurance policy and paying a small premium for it. Call your nearest food insurance agency to get a free quote as per your home’s location today.