If you own or rent a home, you need to look into flood insurance. It’s easy to think that you’ll never be affected by a flood. But the weather can be unpredictable, and you’ll be better off with extra protection. Read on to learn 7 reasons you should purchase flood insurance!
1. Floods are Costly
Even if you only have a few inches of water in your home, you could still end up paying around $8,000 in repairs. Flood damage is costly because it doesn’t simply affect your basement floors. Floodwaters can damage the walls, subflooring, and other areas — and cause mold and mildew down the road. If you’re wondering how to determine if you need flood insurance, consider if you’re willing to pay thousands of dollars in repair bills after a flood. You can keep your savings in good shape by opting for flood insurance as a preventative measure.
2. Homeowners Insurance May Not Be Enough
While you might think that homeowners’ insurance will be enough to keep you safe from financial devastation, don’t count on it. Water damage may be included in your policy, but that’s not the same as flood damage. Make sure you know what’s included in your plan.
3. Floods are the Most Frequent Natural Disaster
Another compelling reason to have flood insurance is that there’s a better chance you’ll have to deal with a flood than any other natural disaster. Floods can happen suddenly, too, so it’s better to have protection in place.
4. You Might Have to Get It
Do you live in a FEMA flood zone? It’s good to find out because you might need to get flood insurance. Living in a flood zone puts you at greater risk of flooding, and some lenders will require you to get it.
5. Flood Insurance Can Be Affordable
When it comes to flood insurance costs, the final rate might be better than you expect. Spending money on another insurance policy can seem burdensome, but many policies are reasonably priced if you find the right one. Visit this site to find affordable flood insurance that can keep your home and finances safe.
6. You Can’t Rely on Government Assistance
You’ve probably seen footage on television of government assistance swooping in to save the day during natural disasters. You can’t rely on that kind of assistance for damage to your personal property, however, unless the damage meets certain criteria. It’s better to take matters into your own hands.
7. You’ll Sleep Better at Night
Ultimately, having flood insurance will give you peace of mind. While early spring may be dry, the rain can show up in a hurry. You don’t want to find yourself in a situation where you’re scrambling for insurance coverage — or dealing with flood damage.
Protect Your Home
Investing in flood insurance can provide the security blanket you need. Since floods can be devastating, you don’t want to risk massive financial setbacks. Find the right plan and sign up before it’s too late.