You May Need Flood Insurance Even If You Do Not Live Near Water

by Hank Coleman

Even though you do not live near water, there is a great possiblity that you will still need flood insurance in order to protect your home and your assets inside the home from flooding. The Federal Emergency Management Authority (FEMA) says that almost one-third of homes that have been damaged by flooding were not even next to any type of body of water such as a lake, river, stream, or ocean. Flooding does not have to take place next to a specific water source. Ground water and run off can cause flooding after a heavy rain if it is not absorbed by the ground. The same can be true from snow melting that is not absorbed. You should consider purchasing flood insurance even though you may not be near a body of water.

Traditional Home Insurance Doesn’t Include Flood Insurance

National Flood Insurance ProgramTraditional home insurance policies do not provide coverage for flood damage. You have to purchase separate flood insurance from the National Flood Insurance Program in order to be protected. Like an earthquake or nuclear disaster, having a large number of homes that are damaged or destroyed by a flood can quickly overwhelm an insurance company. That is why legislation was passed to create the National Flood Insurance Program in 1968. The insurance is backed by the full faith and credit of the United States and is provided to more than 20,000 communities around the country.

Check Whether Or Not Your Home Is In A Flood Zone

If you live in an area that is more inclined to flooding, you may have to pay quite a bit in premiums to protect your home and assets from this peril. But, if your home is not in a designated flood plain or a flood zone, then insurance premiums for flood insurance can be surprisingly affordable. You can find out if your home is in a flood zone on FEMA’s website where you can put in your address to find historical data about your home and its history of flooding. Although the program is run by FEMA and the federal government, you cannot purchase the insurance directly from the federal government. You are still required to purchase the insurance through a home insurance company to start your flood insurance coverage. You can ask your local insurance agent to give you a quote on a policy, or you can call one of the large national insurance companies who also provide the coverage to their customers.

There is a waiting period for most flood insurance policies. So, you want to ensure that you purchase this critical insurance before you need it. You should not wait until your local weatherman predicts rain and flooding in your area before you buy flood insurance. Many people do not realize that their standard homeowners insurance does not cover flooding. Floods can be a devastating event that could leave your house completely destroyed or crippled, and having to pay for repairs out of your own pocket could set you back hundreds of thousands of dollars unless you are adequately prepared with the proper amount and type of home insurance.

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{ 1 comment }

Keith Restore December 19, 2016 at 1:57 pm

All things being equal, adding flood insurance is an inexpensive item to have for peace of mind. Even in the desert….Las Vegas, Phoenix, there are monsoons that happen, so it would be a good idea to look into it.

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