Why do I need Flood insurance if I have Homeowners insurance?

Why do I need Flood insurance if I have Homeowner’s Insurance? Doesn’t my Home insurance cover everything?

There is a broad misconception that your Homeowner’s insurance covers flooding. IT DOESN’T. Broken pipes that cause water damage? Yes. Wind driven hail that breaks through the window and causes water damage? Yes. Water heater equipment breakdown? Maybe with the right endorsements. But if your home is filled with water as a result of rising bodies of lakes, streams and oceans–it is not covered. The National Flood Insurance Program defines a flood as “A general and temporary condition during which the surface of normally dry land is partially or completely inundated. Two properties in the area or two or more acres must be affected. 

I don’t live in a high flood risk zone so why would I need Flood insurance?

ALL areas are susceptible to flooding. Nearly 25% of the NFIP’s claims come from outside high flood risk zone.

Is it expensive?  It may not be depending on your area. You can get it for as low as $500 per year or $42 per month. The highest you can go on building coverage is $250,000 for building coverage and $100,000 on contents, unless you choose to purchase Excess Flood insurance. But isn’t $250,000 better than losing absolutely everything? I am sure people in Houston after Hurricane Harvey can attest to this. 

Do I have to be a homeowner to purchase Flood insurance?  No you don’t. You can purchase it as a Renter or as a Condo unit owner for your contents. 

Protect your most precious assets: Call or email us today us today for a Flood Insurance Quote