How Flood Insurance Can Help You Protect Your Property

Whether you’re in the process of buying a new home or you just paid off your mortgage, at some point, you’re going to ask yourself, “Do I need flood insurance?”

Some lenders require homeowners to obtain a flood insurance policy. However, some do not. It generally depends on the risk of flooding around the home.

For high-risk areas around the coast or near a river, it’s almost a given.  But what about people who live in the desert? Do they need flood insurance?

It’s time to understand the basics of flood insurance before making a decision that could cost you thousands in premiums or repairs.

A flood is “an overflow of water onto land that is normally dry.” A flood in one area can look different from another by covering just a few inches of land in water versus several feet.

What is a Flood?

A standard homeowner policy doesn’t cover flood damage. Sure, it may cover interior water damage from a burst pipe or a tornado. But, it won’t cover damage by floodwaters, hurricanes, excessive rain, or a broken dam.

What Is Flood Insurance?

You have two options to purchase flood insurance. You can google, call, or check out: – Private insurance companies – National Flood Insurance Program (NFIP)

Where Can I Get Flood Insurance?

Private flood insurance is typically provided as a secondary policy on homes with a primary homeowner insurance policy. Call your existing insurance provider and get a quote on a flood policy.

Private Insurance Companies

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