Here’s What You Need to Know Before Buying Flood Insurance

When you purchase a home, one of the last things you may worry about is flood insurance. You may be asked to buy a separate flood insurance coverage if your new home is in a flood plain. If not, you must discuss your coverage options with your insurance agent. Even if you don’t live in a flood plain, there are good reasons to consider buying flood insurance. The following points may give you some things to think about before you call your insurance agent and discuss your flood insurance options.

Flooding Outside of Flood Plains

While flooding doesn’t usually occur outside of flood plains or low-lying areas, it does happen on rare occasions. Heavy rains and unforeseen man-made disasters don’t always follow the flood plain rule. Heavy rain is almost always a common factor when flooding occurs outside of a flood plain. Dam and reservoir breaks are also common but, they too, are often influenced by heavy rains that can cause the damage to extend far outside of the boundaries of the flood plain.

There are times when flooding can occur even when you are not located in a flood plain. Heavy downpours of rain that last for several days can spell disaster. Once the ground becomes saturated or the rain comes down faster than it can soak into the earth, you may be facing a potential catastrophe. The water has to go somewhere, and it often ends up in basements and other lower-lying areas where it doesn’t belong.

Consider Your Risks

You should carefully consider your risks before making the decision not to purchase flood insurance. Talk to nearby residents and others in the area to find out if they have ever experienced any type of flooding. Ask about weather patterns and if there has ever been an incident of flooding due to a man-made disaster. You may be surprised at what you can learn. Not living in a flood plain does not negate your risk. It simply reduces it.

Understand the Consequences

Most home insurance policies do not cover flood damage, although many people who purchase homeowners insurance assume that it does. This isn’t true. Although your homeowners policy will cover certain types of water damage, flooding is not on the list. Take the time to go over your policy thoroughly and always ask questions if you see something you don’t understand. Flood insurance may not be a popular subject, but it is one that is well worth discussing if you want to have adequate coverage for your home.

What If My Property Has Already Been Flooded?

Regardless of the “n” number of times that your property has been flooded, you will still be eligible to buy flood insurance, provided your community participates in the National Flood Insurance Program (NFIP).

Don’t wait until a disaster occurs to get the answers you need about flood insurance and homeowners policies. If you are looking for a perfect homeowners insurance policy with a low premium, contact the experts at VGW Insurance in Texas today. We are ready to assist you with all your coverage needs.