Even if you don’t live in a location that normally floods, there’s no guarantee that it won’t. Changing weather patterns have increased storm severity and flooding has occurred in places that have never experienced it in the past. Paying for the damages that comes with flooding can be extremely expensive without the coverage afforded with flood insurance.
Flooding in the U.S. is the most common type of natural disaster, affecting 1 in 4 people that live outside what’s considered a high risk area. Even a few inches of water can wreak havoc with homes and businesses. In homes, it damages possessions and furniture. Businesses lose stock and can suffer from interruption of commerce. Underlying it all is the bacteria, mold and mildew that automatically will accompany flooding.
When most people think about flood insurance, the first thing that comes to mind is typically the National Flood Insurance Program administered through FEMA. The FEMA program has very strict requirements on who can qualify and the areas that are covered. Homeowners, renters, and business owners not located in a traditional flood area can purchase an independent policy to protect themselves against flooding.
Low risk isn’t the same as no risk when it comes to flooding and the cost of damage from a single inch of water can cost over $20,000 to rectify. The average insurance policy doesn’t cover flooding, but individuals can purchase a flood-specific policy through their insurance company.
A flood insurance policy can cover a wide variety of repairs and replacements that individuals would otherwise have to pay for out of their own pocket. The cost of flood insurance is negligible when weighed against the expense of replacing items such as a furnace, solar energy equipment, and central air units, along with freezers full of food, water heaters, and washers and dryers.
Flood insurance is a smart decision when considering that Houston, TX has seen a minimum of three floods that qualify as once-in-500-years event. Additionally, depending on where the home is located, mortgage holders may require flood insurance as part of the purchasing agreement. It’s always better to be safe than sorry.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
We can be found on Social Media at the following links.