What Is Flood Insurance And Why Do I Need It?

Weather can be extremely unpredictable. No matter where you live, protecting your home with flood insurance coverage from a respected insurance agent is highly recommended. Whether you are in a designated flood zone or not, it is important to speak to you insurance agent to find out the best flood insurance protection for you and your family.

Definition Of A Flood

According to the National Flood Ins. Guide from the Federal Emergency Management Agency, a flood is short-term situation where land that is two or more acres in size or two adjacent properties that are normally dry are flooded with water. The cause of a flood can be from overflowing rivers and tides, quick accumulation of surface water, mudflows and land collapse due to erosion from waves and currents.

Purchasing a Policy

Many that live near a river, lake or ocean often seek some level of flood insurance for their property. A flood policy insurance protects the structure of the home, property within the home and other possessions that are caused by a flood. The cost of a policy depends on the amount of risk for the home. An insurance underwriter will look at a topographical map and zoning information in order to determine the level of the risk, which will in turn affect the cost.

Why Get a Flood Insurance Policy?

Those that live in high-risk areas within a community that participates in the National Flood Insurance Program are required to obtain flood insurance. For others, the standard homeowner’s policy does not cover damage due to a flood. This means that a homeowner is at risk to losing everything if a flood occurs. Many prefer to obtain the additional cover to ensure their property is protected from this natural, sometimes catastrophic disaster. For more information contact an agent today.



Source by Jean S. Butler

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