One effect of hurricanes, that many fail to plan for, is flooding. No home is completely safe from potential flooding. Flood insurance can be the difference between recovering and being financially devastated. According to FEMA's National Flood Insurance Program, just one inch of water in a home can cost more than $25,000 in damage.
Here are some important facts to keep in mind:
Homeowners and renters insurance does not typically cover flood damage.
More than 20% of flood claims come from properties outside high-risk flood zones.
Flood insurance can pay regardless of whether or not there is a Presidential Disaster Declaration.
Purchasing Flood Insurance Policies
In most cases, National Flood Insurance Program (NFIP) policies can be purchased through your agent who handles your homeowners or renters insurance. If your insurance agent does not sell flood insurance, you can contact the NFIP Help Center at 800-427-4661.
Understanding Your Flood Policy
Better understand the benefits of flood insurance by watching this video: