Did you know that your typical home insurance policy does not cover damage caused by flooding, whether natural or not? A flood policy is an essential part of your insurance package, whether your home is in a flood zone or not. You just never know when a water heater will malfunction, a tub overflow, or you have a pipe that bursts inside your wall. While the worst flooding normally occurs during a bad storm, the things that can happen inside of your home are just as dangerous.
There are typically two different kinds of flood policies. One comes with a standard home policy and this one will cover flooding internally, such as a pipe bursting, overflow, etc. The second type of policy is one that you will have to buy separately and this policy will cover a levy or dam breaking, or flooding due to a natural event like a hurricane. Hurricane Katrina showed us that flooding can be very devastating and without insurance, it can leave your home unable to be lived in and you without a place to live.
There are federally designated flood zones that FEMA has laid out and if you are in one of these areas, you are mandated to purchase insurance. FEMA has been even expanding these areas, however, as it has been show that the flood zones are not the only areas affected. Flooding can occur in an area that has not normally been prone to flooding, so it is important to be prepared with an insurance policy that will protect your biggest asset – your home.
Insurance is not something that anyone wants to use, but if you have it when you need it, the money can seem more than worth it in the long run. By contacting your insurance agent, you will be able to determine the best choice for you and your particular needs.