Hurricane season is here. Do you have a flood insurance policy?
Don’t Wait to Get Flood Insurance
As the rainy months of summer storms begin, now is the time to make sure you have a flood insurance policy to protect against sudden and catastrophic outdoor flooding. In recent years, the major source of flooding in the southeast has not been hurricanes. Instead we have had tropical systems become stationary over parts of Florida and rain for a week or two. With that much rain, places that typically do not flood have flooded. Whether you live in a coastal area or inland, flood insurance is a separate policy from your typical home owner’s insurance that protects your property from damaging water levels. Although tropical storms such as hurricanes are rarer in the southwest of the United States, heavy rains and other types of weather that cause flooding does affect the area. Flood insurance is one of many ways a homeowner can protect their home should the worst happen. These insurance policies could be helpful to them if they require damage restoration services in san diego should their property become damaged during severe weather.
Homeowner’s and Flood Insurance: Why Both?
While a homeowner’s policy covers indoor water issues like an overflow from a leaky washing machine, a flood insurance policy protects against water damage caused by conditions outside of the home. Rainwater surging into your house or a hurricane bringing a towering wave across your roof is just a couple of examples of flood disasters. Floods can also cause home foundation damage. This means that the house might not be as stable and secure. If a flood has impacted the foundation of your home, it might be worth contacting a company that can offer inspections to make sure that the house is secure. If not, they will have to repair this foundation.
Determining Factors in Flood Coverage
Flood zone maps help agents determine the cost and coverage associated with a flood insurance policy. Homes by water naturally require higher premiums as do homes in low-lying areas associated with flood risk.
Your home state will also play a role in determining your coverage. For instance, all of Florida is at risk for flooding in some capacity due to its geographical position at or below sea level. In 2017, California saw some of the worst flooding in decades in the middle of February. Hurricane Harvey hit Texas in August of the same year, bringing catastrophic flooding damage to millions.
What Does A Flood Insurance Policy Cover?
A flood insurance policy typically covers the following:
- Physical damage to the home’s structure
- Essential systems such as plumbing and electrical
- Personal property including appliances and furniture up to a certain amount
- Limited coverage of basement structure and personal property stored there
Flood Insurance Policy: A Necessity
Flooding incidents often come with little to no warning. Since a policy takes 30 days to go into effect, it’s too late to wait until a storm is on the horizon. It’s not just storms that present a problem. Snow melts in the spring can cause flooding. Lakes and rivers full to the brim from summer rains can bring flood damage.
In order to get the most comprehensive coverage for your property, flood insurance is an important addition to your insurance portfolio. Overlooking this important insurance can have a major impact on your property and peace of mind. You don’t want to have all your furniture destroyed and because you have no insurance you can only afford cheap furniture to fill your home back up. A comprehensive flood policy comes at a minimal cost, so don’t wait till the water rises. Talk to your insurance agent to find out the best coverage to fit your needs.
Read more about flood insurance on the Fudge Insurance blog:
Ask us any questions about a flood insurance policy. Our agents are here to help.