Do You Need It?
According to the Federal Emergency Management Agency (FEMA), flooding is the nation’s most common natural disaster. Twenty percent of flood claims are filed by people living in moderate- or low-risk areas. Floodwaters have the power to damage not only your home and sense of security, but also your financial future.
What does flood insurance cover?
A flood policy is meant to cover losses that are a result of an accumulation of surface water from outside your property. The flood policy will cover the physical damage to your property and possessions. Most flood policies have a limit of $250,000 for your house and $100,000 for personal property. Excess flood coverage can be purchased to extend the limits of your flood policy.
Everyone has some level of risk for flooding, even those in areas where flood is not required.
Flood insurance can be as affordable as $15/month. The average flood claim is $33,000.
Homeowners and renters insurance does not typically cover flood damage.
Flood insurance can pay regardless of whether or not there is a Presidential Disaster Declaration.