Do I Need Flood Insurance

Do I Need Flood Insurance



Do I​ Need Flood Insurance?
During the​ last several years the​ subject of​ flood insurance has become somewhat controversial .​
The gist of​ the​ controversy revolves around homeowners believing that they have protection against flooding when,​ in​ fact,​ they do not .​
The aftermath of​ hurricane Katrina truly brought this subject to​ the​ fore as​ many hundreds of​ homeowners attempted to​ file claims and were subsequently denied because they did not have flood insurance .​
Hurricane Katrina is​ just one of​ the​ many natural disasters that have occurred,​ causing thousands of​ homeowners to​ lose their homes due to​ flooding .​
Knowing,​ for certain,​ whether or​ not your home is​ insured against flooding should be a​ priority for all homeowners.
Homeowners should understand that there is​ a​ huge difference between water damage and flooding that is​ caused by nature .​
Water damages,​ such as​ happens when a​ water pipe breaks and flood the​ floor,​ are usually covered in​ a​ homeowner's policy .​
This type of​ damage is​ often listed in​ the​ policy .​
Flooding that is​ caused by high water from external forces is​ often not spelled out in​ a​ policy .​
If it​ is​ not specifically stated in​ the​ policy that you​ are protected against such events,​ chances are you​ are not protected .​
Many homeowners simply assume that they are covered for flooding events when,​ in​ fact,​ they are not.
There is​ only one way to​ know for certain if​ your home is​ covered for flooding and that is​ to​ read your insurance contract .​
Your homeowner's policy will state what you​ are protected against .​
If you​ read through your policy and do not see any reference to​ flooding,​ you​ are probably not covered.
So do you​ need flood insurance if​ you​ do not have it​ already? That is​ a​ question that only you​ can answer .​
There are many areas in​ the​ country that are prone to​ flooding are in​ those cases you​ would be much better off having the​ insurance .​
If you​ live near any body of​ water (lakes,​ rivers,​ dams,​ oceans) you​ should have this insurance,​ no questions asked .​
Heavy rains can force water out of​ their areas and cause flooding at​ anytime.
If you​ want to​ add flood insurance but cannot find it​ available in​ your area or​ for your home,​ you​ can go online and research the​ federal programs that are set up for this .​
You may find that in​ some areas that are prone to​ flooding,​ many insurance carriers do not want to​ add new policies .​
This is​ where the​ federal programs can be very useful .​
According to​ FEMA,​ floods are the​ most common natural disaster in​ the​ U.S .​
and that floods can happen anywhere in​ the​ country .​
The small added cost of​ flood insurance is​ an​ investment well worth taking on​ as​ this can be the​ difference between losing your home and keeping it​ should flooding occur in​ your area.
FEMA offers a​ very useful,​ interactive website that can help you​ decide if​ you​ need this insurance or​ not and can help you​ decide on​ how much insurance you​ need .​
This is​ a​ very good place to​ begin your research.




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