Most people look to see if they are in a flood zone and if not they do not think they need flood insurance. Most are in some kind of flood zone, some are just more severe than others. As a home owner this may mean you should consider this coverage, just because the area has not flooded recently does not mean it is not susceptible.
Here are some things to keep in mind about flood insurance.
- It is not included in your homeowner’s policy. It is a separate policy. Keep in mind your homeowner’s policy does not offer any coverage for flood. Your agent can get flood insurance for your home through the National Flood Insurance Program.
- What you buy is what you get. Make sure to discuss with your agent if you want it to include things like dwelling and contents coverage.
- Where you live, determines the cost. The flood zones effect premiums. The higher the risk, the higher the premium. Also keep in mind you do not only need flood insurance in coastal areas. Many floods that occur each year are not in coastal regions.
- Lenders may require flood insurance if you live in certain zones. If you own your house or are paying cash this coverage will be up to you. So make sure you discuss this with your agent to make sure you have the coverage needed for the area that you live in.
The National Flood Insurance Program does keep the flood zones maps up to date. If you want to check your address to see if it is in a flood zone or that if you already have flood insurance, that it is being insured at the right level, this may be helpful to you. Here is the link.
Remember that your agent is a good source for any questions about Flood Insurance.