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Flood Insurance

Flood Insurance for High-Risk Flood Areas
Flood insurance is recommended for anyone who lives in a high-risk flood area. These areas are usually located near large bodies of water or a floodplain. This coverage insures a property and its contents against water damage. Specific flood insurance is required because a typical homeowner insurance plan doesn’t cover flood damage.

This type coverage isn’t mandatory. It depends largely on where you live. Some areas of the country are more prone to flood damage than others. But you may be required by your mortgage company to have this coverage while you’re repaying the loan.

Unlike other insurance plans, flood policies are federally regulated. You can also get additional coverage for things that the basic insurance doesn’t cover. You can also get additional coverage for valuables, such as electronics. Some insurance companies have a 15 to 30 day waiting period before you can file a claim. That means you need to purchase coverage well-ahead of any threatening storms or weather.

Floods can cause devastating damage. That is why flood insurance is worth considering. With coverage, you get help paying for repairs. The insurance company can also provide guidance on who to contact for building services.