Do You Need Flood Cover In Your Home Insurance Package?

January 3, 2020


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With global warming becoming a huge and growing concern for everyone, no matter where you live in the U.S., it’s time that we face the reality and prepare ourselves for every environmental eventuality, including flooding.

Even if drastic efforts to tackle global warming are brought in today, around 350,000 homes state-wide are already constructed on land that is known to be at risk from flooding, and if no urgent steps are taken, this figure is set to increase to 385,000. Many of these homes are in major metropolitan coastal areas such as New York City, Miami Beach and the Bay Area, and where real estate prices are higher.

So, with the threat of flooding on the increase and many homes at risk of damage or complete destruction, perhaps it’s time you thought about including flood cover in your home insurance policy:

I don’t live in a flood risk area; do I need flood cover?
While most associate flooding with intense or prolonged rainstorms, it’s important to remember that other weather conditions can also cause flooding, such as melting snow or a severe coastal storm surge. Statistics show that 1 in 5 flood insurance claims comes from a homeowner living in an area not classified as being at a low or medium risk.

Doesn’t my home insurance policy cover flood damage?
In short, no, not usually. If groundwater rises and floods your home, causing damage and often leaving it uninhabitable for weeks if not months to come, your standard home insurance policy  will not give you any, or adequate protection.

What parts of the home are covered by flood insurance?
In general, most areas of a standard home will be covered by the flood insurance policy. While basements may require extra protection, the core parts of your home such as the foundations and those systems that keep it running, are covered, as are appliances, carpeting and personal belongings.

How much will flood insurance cost?
Fortunately for the consumer, unlike most other insurance packages, flood insurance costs the same no matter who, or where you purchase it from. This is because the federal government backs a national program via the National Flood Insurance Program, meaning that wherever you are in America, your insurance plan is coming from the same place, keeping the price the same.

While we would all prefer not to have to cover our homes and possessions from the risk of natural disasters or any other types of events that can cause our homes to flood, the reality is that the risk is always there wherever you live, and whatever type of home you live in.   To make sure that you’ve got all the coverage you need in case of a potentially devastating event such as a flood, book an appointment with a qualified and reputable insurance firm today.