Why should you get flood insurance even if you live in a low risk flood area?

Mother nature has not been kind in 2021 with flooding cases going up every day. Home insurance doesn’t cover floods. You need to seek a separate flood insurance policy to protect your home and personal belongings from damage. At Client First Insurance Solutions, we recommend learning everything about flood insurance to ensure that you buy enough based on the value of your home and personal belongings. You should definitely get flood insurance, and here are the top 3 reasons. 

Sometimes, flood insurance is required by your lender

If you intend to buy a home that is located in a high-risk flood area, your lender may require you to buy flood insurance. The policy covers the dwelling as well as personal belongings. Some mortgage companies in Americus, GA may allow you to go without flood insurance depending on the type of loan. Federally regulated mortgages will require flood insurance, which must be paid for until the mortgage is paid off.

No one is really safe from floods

Living in a low or moderate-risk flood area doesn’t mean your property is safe. Floods can be estimated, but models can quickly get outdated and may not reflect the severity of a flooding event. Remember, an inch of floodwater is enough to cause loss of property worth millions. A recent disaster risk analysis by FEMA  confirmed that there is a high frequency of flooding events in areas often associated with disasters. 

Flood insurance has a waiting period

Flood insurance comes with a 30 day waiting period, which means you cannot buy the policy when it’s convenient for you. If flooding occurs during the waiting period, you will not be eligible for compensation. It’s more prudent to buy flood insurance as early as possible, especially with the fact that floods cannot always be accurately predicted.

Buying food insurance in Americus, GA soon? Let Client First Insurance Solutions help you find a policy that matches your needs. Call us today!