A Short Guide To Flood Insurance

Flooding is a serious occurrence that many homeowners and business owners across the United States end up facing at some point. Flooding can be devastating and can ultimately end up costing you tens of thousands of dollars. Many people think that basic hazard insurance or home insurance can protect you from flooding but the reality is that you need both hazard & flood insurance if you want to adequately protect your property.

What Is Covered By Flood Insurance?

You may think that only the structure of your home or business is protected by flood insurance but it can actually cover a number of things inside your home/business as well. Some of the things that are protected by flood insurance are:

  • Garages and carports
  • Appliances such as stoves, refrigerators, microwaves, dishwashers, and more
  • Permanent carpeting
  • Drapes
  • Furniture

Is Flood Insurance Ever Required?

Flood insurance is not required for most people in the United States. However, there are some high-risk flood areas where homes and businesses with mortgages from government-backed lenders are required to have flood insurance. Make sure you do your research to find out whether you live in a high-risk flood area.

Flooding can be devastating to homes and businesses and it can be hard to financially recover. Flood insurance can go a long way towards providing you with lasting financial security.