Staying Afloat with Flood Insurance

CT Flood Insurance Agency

What Do You Need to Know About Flood Insurance?

Insurance is incredibly necessary if you live in an area that is prone to flash flooding and other forms of a flood, but have you ever considered looking into flood insurance specifically? Many people do not know this, but you can get the insurance that specifically covers your household in the event of a flood, even if you are not necessarily in a flood-risk area.

Here are 3 reasons why you need flood insurance:

1. Living Outside of a Flood-Risk Area is not Always a Safe Bet

One of the main reasons people do not tend to get flood insurance is because they believe living outside of a flood area makes them safe enough. Unfortunately, that is not always the case.

While most floods may not affect a large swath of area, there are times when it might extend out and catch homeowners and renters unaware. Having flood insurance is an investment in safety and you never quite know when you will need it.

2. Flood Damage is Incredibly Costly

Unfortunately, flood risk areas are often based on outdated models and do not always paint the full picture of risk. And when floods do hit, they can be incredibly catastrophic for homes.

Flood damage may not be extensive, but it is expensive. Even removing an inch or two of water can end up hitting five figures to fix. But with flood insurance, you can find relief in helping cover the cost of renovation in case there is damage.

3. Homeowner and Renter Insurance May Not Always Cover Floods

While these policies are pretty comprehensive, flood insurance is not guaranteed in these policies. And even if they allow it as an add-on to your existing coverage, you will likely find that it does not cover as much out of pocket as dedicated flood insurance will.

Once you compare flood-specific insurance versus general coverage from your homeowner or renters insurance, you will likely find that you are getting a much better deal by getting flood insurance separately.

To learn more about why flood insurance is so beneficial and how it can help you through tough times, please contact us today to learn more.

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