Why All Homeowners Need Flood Insurance

Making sure that you and your home are protected is important for every homeowner. No matter where you are, you could end up with a flood that devastates your home. If you’re a homeowner, it’s always a good idea to have this coverage in place. It can protect you in many ways from extreme expenses that could make you bankrupt if you don’t have coverage.

If you want protection against flooding, call us today at Community Management Insurance Group in Greensboro, NC.

Flood Zones

There are specific places that are labeled as flood zones. They may have a body of water close to them, or they may simply be in an area that regularly floods. If you live inside one of these areas, it’s often required that you have flood insurance. The area will be prone to flooding at a certain point. Some flood zones are called 50-year flood zones or another number of years that corresponds to how often it floods. However, if you don’t live in a flood zone at all, your area can still flood. Twenty percent of flood claims that are sent are from areas that are not in flood zones. No matter what the terrain is, you could be a victim of flooding. 

Home and Flood Insurance 

If you’re putting off getting flood insurance because you think your home insurance policy will cover it, think again. Home policies don’t cover floods. If you don’t specifically have a flood policy, you could face serious financial problems after a flood if you aren’t covered for it. You need both a home policy and a flood policy to stay protected against many risks your home and belongings face. 

Get a Flood Insurance Policy

To get your policy, call us at Community Management Insurance Group in Greensboro, NC to find out more about this type of policy. 

Common Situations Covered By Flood Insurance

It’s not uncommon for individuals to suffer water damage during a flood only to learn that their home insurance policy doesn’t cover flood damage. With extreme weather events becoming more prevalent across the country, more and more homes are being affected by flood waters. Those living in areas historically considered moderate- to low-risk now make up more than 20% of claims that the Federal Emergency Management Agency (FEMA) handles each year.

As such, it’s crucial that you understand the full extent of the risks in the Greensboro, NC area and plan accordingly. One of the best ways to do this is to purchase a flood insurance policy.

What Flood Insurance Covers

In the most basic sense, flood insurance covers water damage to your home and belongings. Though some areas are more susceptible to flooding, a flood can technically happen anywhere there is an excess of water on land that is typically dry. Flood insurance covers damage to the structure of your home and the contents inside in situations where 

  • A body of water overflows its banks
  • Rain accumulates faster than it can drain
  • A hurricane produces a storm surge
  • Heavy rain causes a mudslide

It’s essential to keep in mind that while flood damage is not covered by most home insurance policies, some types of water damage are covered. This includes burst pipes and leaking appliances, both of which are typically not covered under flood insurance.

Ensure You’re Protected With Help From the Community Management Insurance Group

Residents of the Greensboro, NC area must be aware of their property’s flood risk. Luckily, the team at the Community Management Insurance Group has the information you need to find the right flood insurance policy for you. To learn more and receive a quote, contact us today.