What You Should Know About Flood Insurance

What You Should Know About Flood Insurance

Many people do not understand the fundamentals of flood insurance which leads to much confusion around the subject. What do you have to know?

As an independent insurance agency, we can’t tell you how many times we’ve heard people say, “I don’t live in a flood zone, so I don’t need flood insurance.” It’s been countless times.

The truth is that most of the country is in some kind of flood zone. A flood zone is a designation to a piece of land that measures the risk of flooding, and some zones are at higher risk than others. So where does this leave you, a homeowner? This means that your home is at risk for flooding, even if your area has not flooded in recent memory. Here are a few things you need to know about flood insurance.

  1. It’s separate from homeowners insurance. Many assume that if their home floods, their homeowners insurance will cover it. This is 100 percent incorrect. In order to protect yourself from flood damage, you need a flood insurance policy. (Unless your home insurance policy specifically states flood damage.)
  2. Your lender will likely require it. If you purchase a home that is a mid- to high-risk flood zone, your lender will require that you purchase flood insurance before they loan you the money for your mortgage.
  3. Not just for folks in coastal areas. There are many cities that experience flooding outside of coastal cities. Broken pipes, sewage backups, and flash floods can cause damage to your home which is not covered by your homeowners insurance policy.

Flood insurance is something that most of the people require, yet few people own. Visit Lamburt Corporation Insurance for all of your homeowners needs in Stratford, Connecticut. Contact us today for the insurance you and your home needs and deserves.