How to Protect Your Property with Flood Insurance

Some lenders require homeowners to obtain a flood insurance policy. However, some do not. It generally depends on the risk of flooding around the home.

How to Protect Your Property with Flood Insurance

A flood is “an overflow of water onto land that is normally dry.” A flood in one area can look different from another by covering just a few inches of land in water versus several feet. 

What Is a Flood?

What Is Flood Insurance?

Flood insurance is a standalone insurance policy that covers damage caused by flooding. It covers building replacement costs and personal property losses.

You have two options to purchase flood insurance. You can google, call, or check out

Where Can I Get Flood Insurance?

How Much Does Flood Insurance Cost?

The cost of flood insurance depends on the property’s location, age, elevation, number of floors, and price to rebuild.

If you live in a low-risk area, you may not be required by law or your lender to carry flood insurance. However, by federal law, if you have a mortgage and live in a high-risk area, you will be required to have flood insurance.

Do I Have to Have Flood Insurance?

Benefits of Flood Insurance

Although we can’t predict the effects of Mother Nature, we can protect ourselves. A flood policy ensures that the devastating impact of a flood doesn’t cause catastrophic effects on your financial situation.

The decision to buy or not to buy is going to be a personal decision. You have to weigh the risks and the benefits of having a flood policy.

To Buy or Not to Buy