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Flood Insurance: Why it’s Vital to Prepare for the Worst

Is flood insurance important, or is it just one of those extra coverages your insurance agent tries to sell you?

It’s definitely extra — it’s not normally included in homeowners insurance policies — but you should reconsider if you think of it as an unnecessary policy add-on. It’s anything but that.

flood insurance

Flood insurance could save you tens of thousands of dollars (maybe even up to the full value of your home). And isn’t your home your greatest asset? It’s important to take every proactive step you can to keep your possessions safe, and that includes your home and everything inside of it. Flood insurance helps you do that. It serves a vital purpose — it’s not just for peace of mind.

There Is Always a Risk

Floods can happen wherever rain falls, and changing weather and climate patterns can raise or lower your area’s risk. Nearby construction can change rainfall drainage patterns and affect your risk percentage.

Alternate causes of flooding such as significant snowmelt or mudslides may also be a threat. It’s important to recognize that you are never completely safe from floods, no matter where your home is located.

You Likely Don’t Have Coverage

Homeowners insurance does not cover flooding. It covers water damage in certain situations, such as a tree making a hole in your roof during a storm and letting in rainwater. But once the rain hits the ground, your homeowner’s insurance typically won’t cover any subsequent damage.

You Don’t Want to Pay for Flood Damage

Think you can handle the costs of any potential flood damage? Think again. The cost of the damage to a 2,000-square-foot home with just 6 inches of floodwater is about $30,000. If the water rises higher, so does the price of repairs.

Federal Assistance Isn’t Worry-Free

If there is a natural disaster, typically the government offers disaster relief in the form of federal assistance. This sounds good, until you realize it’s a loan that you have to pay back. Fitting a loan payment into your budget might not be realistic, but getting low-cost flood insurance could save you the trouble if you take care of the issue now.

Receive Payment Right After the Disaster

Flood insurance pays out coverages, or at least partial payments, right away so you can start recovering from the damage as fast as possible.

Renters Can Get Coverage Too

If you rent your space, you will want coverage for your belongings only. This is available, and can help protect valuables and business inventory from flood-related water damage.

Don’t Hesitate

It takes about 30 days for a flood insurance policy to take effect. Don’t wait any longer to obtain the coverage you need to keep your home or business safe. Talk to Four Seasons Insurance today — we will provide a free quote fast.

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