One of the most valuable possessions you may own is your house. After all, you spend a lot of time, money, and effort making it a place you can call your own. This is also one reason homeowners get home insurance to protect what they have invested in for years.
However, not all home insurance packages include flood damage as part of their package. You might think flood insurance is unnecessary since you live in a high-rise building or your area has never been hit by a flood, but that's where you’d be wrong. There's a wide range of reasons your home needs this policy, which we’ll explore below:
1. Your Home Is at Risk
Did you know that flooding is one of the most typical hazards in the U.S.? In fact, flash floods often take place across all 50 states, which means that even if you reside in a location that doesn't seem prone to flooding, your home is still at risk.
For instance, some people who don't reside in flood-prone areas tend to be more carefree about their belongings and don't take the same precautions as those who live in known flood zones. As a result, they can be surprised when a flood hits their area and suffer significant damage. It always pays to stay prepared.
2. Your Regular Home Insurance May Not Cover You
Most standard home insurance policies don't include flood damage in their coverage. If a flood ruins your home, you will likely have to file a separate claim with your insurance company to get reimbursed.
This can be a serious hassle, especially if you're already dealing with the aftermath of a flood. In some cases, finding a company that will insure your home against floods may even be difficult.
Therefore, purchasing a separate flood insurance policy is crucial if you live in an area prone to flooding or just want to stay ready for worst-case scenarios. These insurance policies are designed specifically to cover flood-related damage and can be a lifesaver in a disaster.
3. Flood Insurance Policies Are Not Expensive
Contrary to popular belief, flood insurance policies are not overpriced. In fact, they can be quite economical, especially when you compare the cost to the potential damage that a flood can cause.
For example, a standard insurance policy for a home worth $250,000 costs just $427 per year. Although it can seem like a lot, it's a little thing to pay to safeguard your house and possessions against possible flood damage.
4. You May Be Eligible for a Discount
In addition to being affordable, these insurance policies may also be eligible for a discount. This means you could pay even less for your policy than you originally thought.
Be sure to contact your insurance company to find out if you're eligible for a discount. They will tell you if you pass for a discounted rate and how much you can save.
Final Thoughts
Flood insurance can help safeguard your home and belongings in flood and rebuild your home if damaged or destroyed. If you're hesitant about whether you need flood insurance or not, talk to your insurance agent so they can help determine what policy works for you.
Brand and Britt Insurance provides reliable and cost-efficient flood insurance policies in Georgia to help homeowners protect their property from flood damages. Get in touch with us today for more information!