Three major myths about flood insurance mean you could be taking an unnecessary risk.
The first is that a flood policy is only needed for people living in designated flood zones. In reality, flooding is a potential risk everywhere and the damage can be devastating.
Another myth is that homeowners insurance automatically includes flood coverage. In reality, that is usually not the norm, and you should always assume you aren’t covered unless your homeowners policy specifically says otherwise.
The third myth is that government programs have taken care of flood insurance. There is a National Flood Insurance Program that guarantees the availability of insurance in specific areas. However, this only covers a tiny percentage of American homes.
For most homeowners, floods are a low-likelihood but high-cost risk. If you are hit by flooding you could lose many or most of your personal possessions, face major reconstruction work, and be left homeless for months while your property is made habitable again. In most cases, not having flood coverage is a chance you simply can’t afford to take.
Contact us and we’ll help explain the benefits of obtaining a separate flood insurance policy.