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How to Know if You Need Flood Insurance

Every year when the weather gets bad, you’ll hear news reports about major flooding. You’ll see cars stuck on flooded roadways and homes where the water has reached up to the second floor and roofs.

While you sit back on your couch watching the devastation and the insurmountable costs that homeowners must undergo to clean out and fix their flooded homes, you begin to wonder whether you should get flood insurance. The most water that you have ever seen in your home is a little dampness in one corner of the basement flooring.

Who Needs Flood Insurance?

Do you live in a floodplain? Do you live anywhere near a creek, stream or river? Are you located in a coastal region? Is your home situated in a place where there is poor grading of the surrounding upraised land, as lots of rainwater drains more in your property’s direction?

If you answered yes to any of these questions, then it is a sure bet that you need flood insurance. In fact, there are many banks that will not give out or extend a mortgage loan to you if your home is located in a designated Special Flood Hazard Area (SFHA) and you don’t purchase flood insurance.

How Do You Get Flood Insurance?

What some people don’t realize is that a standard homeowner’s insurance policy typically does not carry flood insurance protection. You have to purchase this in addition to your homeowner’s insurance.

Flood insurance offers coverage for your home for structural damage, electrical systems, plumbing, appliances such as refrigerators and stoves, furnaces, central air units, water heaters, and installed carpet on flooring. It will also cover the cleanup of flood debris.

If it is in your budget, you may also want to get a flood insurance policy that covers your personal property such as clothing, furniture, freezers, food, removable air conditioners, and special types of valuable property (artwork and furs) that totals a certain amount of money, such as $2,500.

Protect your Family and Home with Flood Insurance

Just because your area hasn’t experienced flooding in a while doesn’t mean that you won’t ever have a flood happen in your neighborhood. Don’t wait until after the flood happens to kick yourself for not getting the proper flood insurance. With flood insurance, you will have the resources to repair your home and replace the damaged items in it as you keep your hard-earned money where it belongs — in your pocket.

Arnold Norton has experience in home repair, renovations, and improvement. Mr. Norton has published several informative blogs and articles focused on helpful tips for new and current homeowners.

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