Why All Homeowners Need a Flood Insurance Policy

When you own your own home, you have to have a home insurance policy on your home. It’s important to have this for your financial protection and your quality of life. However, there’s another kind of policy that you need to have on your home. That type is flood insurance. Every homeowner should have this type of insurance to protect themselves against the massive damage that floods can do. 

Flood and Home Insurance 

Why do you need flood insurance if you have a home insurance policy? This is because home insurance doesn’t cover flooding. It will cover several types of accidents, calamities, and certain disasters, but it won’t pay for flooding. This leaves you highly vulnerable in case of a flood occurring in your area. Most of the time, floods happen in areas explicitly designated as flood zones. However, about 20% of flood claims don’t come from these areas. This means that virtually any area can suffer from a flood, even when the area itself isn’t known for flooding. 

NFIP Backing

The National Flood Insurance Program is a governmental program that backs flood insurance for homeowners. This means that a flood policy is a solid insurance product that will be there in case there’s a flood. The price will be the same when you buy a policy, no matter where you get it from. These are policies that every homeowner should have to protect themselves financially. The cost of fixing flood damage can be so high that it’s unaffordable. To avoid this risk, you need to have a flood policy on your home as soon as you buy it. 

Get Flood Insurance

Contact us at the Commonwealth Insurance Center in Williamsburg, VA to learn more about getting flood insurance.