Flood Insurance

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How Flood Insurance Coverage Works & Why You Need It

How Flood Insurance Coverage Works & Why You Need It

Flood insurance covers water damage to your house and belongings if the water comes from the ground up. This differs from water damage caused by hail or rain. Your homeowner’s insurance policy generally covers water damage from storm-related incidents, but it will not cover flood damage. To obtain flood insurance, you need a separate policy or a rider for your home insurance policy.

It’s important for homeowners and renters to get the insurance coverage they need. Even renters can get a flood insurance policy that covers their belongings. Our insurance agents can help you understand what your policy should include and get you the right coverage for your situation.

Home Insurance Doesn’t Cover Flood Damage

Home Insurance Doesn’t Cover Flood Damage

It’s a common misconception that your homeowner’s insurance will cover flood damage when it will not. Before insurance covers a claim, they will verify where the water damage originated. For damage caused by inclement weather, home insurance is the right coverage. But if the water seeps into your home from the ground below, it’s considered flood damage.

You don’t want to find out the hard way that home insurance doesn’t cover flood damage. If you live in a moderate or high-risk area for flooding, we recommend purchasing flood insurance. You don’t want to risk your home when you could protect it. But you can’t wait to get insurance coverage until you’re dealing with a flood. Your insurance policy must be in place at least 30 days prior.

There’s a 30-Day Waiting Period

There’s a 30-Day Waiting Period

Don’t wait until a flood is imminent to purchase flood insurance. In most cases, there’s a 30-day waiting period before coverage takes effect. Technically, you can purchase flood insurance anytime, but it just won’t protect you right away. We recommend getting that flood insurance policy now instead of waiting, because you never know when disaster strikes.

Why You Need Flood Insurance for Low-Risk Areas

Why You Need Flood Insurance for Low-Risk Areas

Did you know that flooding causes the most damage to American homes? Flooding has caused more financial property damage than any other natural disaster, including hurricanes. The scary part is that 40% of all claims don’t even come from high-risk flood areas. This means your house can get flooded even if you live in a low-to-moderate risk zone. 

For homes in areas with minimal flood risk, there are low-cost policies available for flood insurance. These can provide you peace of mind when something happens, and they’re very affordable. Flood insurance is the best way to protect your house and belongings from flood damage and provide that peace of mind you deserve.

FAQs About Flood Insurance

Will My Homeowner’s Policy Cover Flood Damage?

No. Your homeowner’s insurance will not cover any water damage caused by flooding. Many homeowners don’t find out until after their house has flooded. Don’t wait until it’s too late to get adequate flood insurance. Water damage can be very costly and may even make your house uninhabitable.

Is Flood Insurance in High-Risk Areas Expensive?

If your community participates in the National Flood Insurance Program, flood insurance in a high-risk area doesn’t have to be as expensive as you might think. You can also adjust your coverage to lower your premiums. We can help you find a policy that protects you and fits your budget.

Do I Need Flood Insurance?

Flooding causes more damage than any other natural disaster, and it doesn’t just affect high-risk areas. We recommend purchasing flood insurance to protect your home. It’s simply too valuable for you and your family. If you’re worried about cost, we can help you find a policy that fits your needs and your budget.

Is Flood Insurance Affordable?

Flood insurance costs depend on your property and whether you’re in a high-risk flood zone. While high-risk areas drive up premiums, you can’t afford not to insure your home against flooding. To keep the premiums reasonable, we can adjust your policy coverage to fit your needs.

Talk to Us about Flood Insurance Coverage

At Walker Insurance Agency, we want to protect your home and help you prepare. Flooding is a common natural disaster that affects many properties not located in high-risk areas. Call us today and make an appointment to talk about your flood insurance policy.