Flood Insurance Makes Sense No Matter Where You Live
According to the
However, in
Buying flood insurance, which is separate from homeowners insurance, through the National Flood Insurance Program (NFIP) is your best bet for a quick recovery from a storm-producing flood. Only one inch of water in a home can cost about
Compounding the damage are the slow-moving storms that can inundate homes with several feet of water, even homes outside of flood zones. Without flood insurance, most homeowners would have to pay out of pocket or take out loans to repair and replace damaged items.
To date, flood insurance policy payouts for Tropical Storm Michael total more than
Flood insurance is a good purchase for protecting your home, your most valuable asset. Flood insurance covers up to
Most mortgages require both homeowners and flood insurance for homes located in high-risk areas. Once flood insurance is purchased there is a 30-day waiting period before the coverage becomes effective. Property owners are urged to speak with their local insurance agent because a few exclusions to the waiting period may apply, which agents can explain. For additional information on NFIP or to find an agent, call 800-427-2419 or visit www.floodsmart.gov. For more information on
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