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Busting Flood Insurance Myths

Wed, Aug 08, 2018 at 11:00AM

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These days, finding accurate information about flood insurance can be difficult. Rumors and false data are prevalent.

Still, flood insurance remains important in all regions. That’s partly because water damage is permanent and can be extensive. If your home floods, you could lose everything and be forced to start over. Given that, securing comprehensive flood insurance is a wise decision. The good news is that it’s also more affordable than you might think.

By contrast, ignoring the benefits of flood insurance or not getting the all the details creates unnecessary stress and drama. In fact, complications involving flood insurance claims rose 25 percent in 2017, according to research from FEMA's Office of the Flood Insurance Advocate.

So, discovering the truth about flood insurance (and how it can help protect your family and property) eliminates confusion and sets you up to make sound decisions. Read on for flood insurance facts.

Homeowners Insurance

A common misconception is that homeowners insurance covers any incident affecting your property. However, most policies don’t cover flood insurance. That’s why it’s important to meet with a trusted and reputable insurance agent, who can help you secure essential coverage to protect your home against any threat.

Another key aspect is that now many of our homeowner carriers are now offering flood insurance as an additional coverage.  It is not a separate policy but is included with your current homeowner’s insurance and often at a less expensive price than a standalone flood policy.  Coverage can be purchased to meet the same limits as your limit for homeowner’s limit.

Flood Plain Locale

Recent severe weather across the nation has proven that unlikely events can happen anywhere. That means, regardless of whether or not you live in a floodplain, securing comprehensive flood insurance is integral to protecting your loved ones and property.

Inland Residence  

Some Florida homeowners believe flooding is only a concern for those people who live close to the ocean. In reality, no one can predict exactly what will happen during a severe weather event. Rising water levels following any storm remain a threat to property. So, flood insurance could spare you the expense of having to deal with flood damage on your own.

Prior Floods

If your home was previously flooded, that doesn’t necessarily mean you’re ineligible for flood insurance. Rather than making assumptions or relying on misinformation, it’s best to reach out to a skilled and qualified agent who can help you secure insurance solutions tailored to your unique situation and needs.

Disaster Aid

Some people have the erroneous idea that if there’s a major flood, the government will swoop in and hand out cash. The fact is that the Federal Emergency Management Agency (FEMA) only supplies disaster aid in presidentially-declared disaster areas. By contrast, flood insurance covers you regardless of disaster declaration.

Expense

Then there are those folks who think flood insurance is an unnecessary expense. FEMA researchers say just five inches of water can cause more than $25,000 in damage. Having to come up with that kind of money on the spot is impossible for many homeowners. That’s why securing comprehensive flood insurance is paramount.

Complete Coverage

Still, it’s important to realize that flood insurance alone might not cover all damages from a severe weather or other flooding incident. For complete protection, it’s best to investigate all the insurance coverage solutions available to you.

Since 2002, we’ve helped countless Florida homeowners with a variety of insurance needs. Along with flood insurance, we also specialize in auto, business and commercial, homeowners, construction insurance, and more. Contact us today to learn more about the many insurance options we offer to protect your family and property.

 


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