You Need Flood Insurance

If it can rain, it can flood: Why flood insurance is a wise bet for homeowners

You may need flood insurance(BPT) – The federal government considers floods the nation’s most common natural disaster. They strike every state and leave homeowners with huge repair costs. Why? Because typical homeowners insurance doesn’t cover flood damage and flood insurance must be purchased.

Those policies may provide protection for water damage when it comes through a hole in the roof or from wind-driven rain. But coverage doesn’t extend to damage caused by water from a storm-swollen river, torrential rainfall or other flood-inducing conditions.

Homeowners are required to purchase flood insurance if they have a federally backed mortgage and live in a high-risk flood area as identified by the National Flood Insurance Program.

For others, though, it’s optional.

With premiums starting as low as $171 a year for a home and its contents, it’s View full post…

Read More... 9 Comments