Flood Insurance Coverage

According to the FEMA (Federal Emergency Management Agency), floods happen in all the regions of the United States of America. Actually, 90% of natural calamities in the United States involve some kind of flooding. That is why property owners should plan their insurance requirements accordingly.

Flood insurance coverage is a critical part of protecting your property from flood damage. Nonetheless, flood insurance is a separate coverage that is different from the typical homeowner’s insurance. Many homeowners do not think about floods when buying insurance. Nevertheless, floods are the commonest natural calamity, and most homeowner policies do not offer flood coverage.  

What are the benefits of acquiring flood insurance coverage?

Having a flood insurance coverage for your property has several benefits which include:

  • Flooding is real: The nearer a building is to a water body, the more susceptible it is to flooding. However, even homes several kilometers away from a water body can still suffer the effects of a flood. Research done by the FEMA indicates that 25% of flood insurance claims are from people living in moderate-to-low-risk regions. Many insurance claims are from these regions since it does not require a major water body or storm for flooding to occur. Flooding can result from an overflowing water source or a slow-moving storm. 
  • Damage due to flood can be costly: Flood damage can be severe and costly. An inch of flood water might result in extensive damage that may cost you a fortune. Additionally, nothing is invulnerable to water damage; it can ruin floors, walls, appliances, and even carpets. 
  • Disaster aid is not always accessible: Many people think it is unnecessary to acquire flood insurance coverage because they will get Federal disaster aid. However, not all flooded regions are federal disaster areas, and thus, disaster aid is not guaranteed. Furthermore, even if you are eligible for this assistance, it is a loan that you will have to repay. Flood insurance coverage offers homeowners peace of mind as it can provide adequate money for replacements or repairs. 

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