Too often, we hear about the trouble people went through because they didn’t have flood insurance. Hurricanes, flash flooding, and other natural disasters can cause millions of dollars in damage – and without insurance, you will have to pay for repairs and replacement out of pocket. However, many people believe a bunch of myths about flood insurance that discourage them from buying it. Consult with Client First Insurance Solutions in Americus, GA for expert insurance advice.
Here are 5 of the most common myths about flood insurance debunked:
Myth #1: Flooding Only Happens Near Water
Flash floods can occur anywhere—even in desert areas where you might not expect it. Just because you don’t live near a river, lake, or ocean doesn’t mean you’re not at risk for flooding. In fact, more than 20 percent of all flood insurance claims come from outside high-risk flood zones.
Myth #2: My Homeowners Insurance Covers Flooding
Homeowner’s insurance covers water damage caused by things like burst pipes and leaky roofs – but not floods resulting from natural disasters like hurricanes or tropical storms. You must purchase a separate policy from the National Flood Insurance Program (NFIP) or a private insurer if you want to be protected from flood damage.
Myth #3: Only Homes in High-Risk Areas Are Required to Have Flood Insurance
Wrong again! While it’s true that your mortgage lender will probably require you to have flood insurance if you live in a high-risk area, there are plenty of other reasons to carry this coverage even if you’re not in a high-risk zone. Did you know, for example, that just one inch of water in your house might cost up to $25,000 in damages?
Myth #4: My Region Hasn’t Experienced a Flood in Years, So I’m Not at Risk
A region’s history of floods has no bearing on its future risk. In fact, just because your town or city hasn’t experienced a major flood doesn’t mean one couldn’t happen tomorrow. A number of factors—including changes in weather patterns, development, and rainfall—can all increase your risk for flooding, even if your region has been mostly dry for years.
Myth #5: I Don’t Need Flood Insurance Because the Government Will Help Me Pay for Damages if My Home Floods
This one is partially true—the government does offer some financial assistance after a major disaster declaration, but it will only cover a small portion of the damages incurred. In most cases, it won’t come close to covering the cost of rebuilding your home and replacing your possessions. That’s why having both government assistance and private flood insurance is the best way to protect yourself financially if your home is damaged by a flood.
Get Flood Insurance Today
As you can see, there are a lot of myths about flood insurance out there! Don’t let these misconceptions deter you from purchasing the coverage you need to protect yourself and your family from financial ruin in the event of a flood. To learn more about your risks and what kind of protection is right for you, contact Client First Insurance Solutions in Americus, GA today. We’re here to help