What Is Flood Insurance and How to Tell if You Need It

what is flood insurance

So, you have settled into your new home and you want to make sure you have everything covered. Taking risks is not something you are interested in. You have been smart and made sure to take out homeowners insurance, but is that all you need?

What happens if there is heavy rain and you have water damage? You may need coverage for floods. So, what is flood insurance?

What Is Flood Insurance?

Flood insurance is a separate policy from your homeowner’s insurance. Most homeowner’s insurance policies do not cover floods or water damage. Flood insurance can cover your home and the contents in it.

Water in a basement can be a big mess. If you have ever seen water-damaged walls you know how bad it smells and looks. This is not always cheap to fix.

It is interesting to note that one inch of water can cause thousands of dollars worth of damage. Most homeowner’s insurance does not cover this. When it comes to saving money, flood insurance is a good investment.

It is a policy you have in addition to your homeowner’s insurance. This helps with water damage that regular homeowner’s insurance does not cover.

Peace of Mind

If you live in an area that is prone to flooding, or you have concerns about the possibility of a burst pipe or flooded yard, you may need flood insurance. Sometimes peace of mind is worth a lot.

Any home has the potential to flood. Even if you do not live in an area zoned for flooding, that won’t prevent water damage. Anything can happen.

See also  8 Ways Drivers Can Help Keep Motorcyclists Safe

It is often said that homeownership is not for the faint of heart. Many times this is said because of things that can go wrong or break in any house. You may wake to find water in the basement, a flooded yard after heavy rain, or a burst pipe.

Most of us do not have thousands of dollars sitting in the bank waiting to be spent on expensive home repairs. This is why flood insurance is so important. It brings peace of mind knowing you will be okay if something happens.

In the case of flooding, an ounce of prevention truly is worth the cure! Protection is always important.

Do You Need It?

Some people never think about flood damage or preventing it. This can be risky. It is like taking a gamble on whether you can afford to fix water damage when it happens.

Indeed, you may never need it. This is true with any insurance, but we don’t buy insurance hoping that we will use it one day. It is added protection to give us that peace of mind that we have the backup plan should we need it one day.

What is flood insurance? It is added peace of mind for any homeowner. Follow us for more tips!