Do I Really Need Flood Insurance?
Is Flood Insurance Really Needed?
At Huff Insurance, clients and prospects are always asking us that since they are not in a “flood zone”, do they really need flood insurance?
Our initial answer to this question is a short 2 part answer.
- Everyone is in a flood zone.
- Yes, you need flood insurance if you want to have insurance to cover the damages that results from a flood.
The majority of people do not realize that flood damage is excluded from almost every homeowners insurance policy.
Therefore, the only way to have coverage is to purchase a separate flood insurance policy.
How Costly Is Water Damage For A Home?
That is a great question. According to FEMA, one inch of water can cause about $26,807 in damage to a 2500 square foot home.
And as the water rises, so do the damage costs.
There is a great tool on the FEMA floodsmart website that will calculate the damages for each inch of rising water.
So having the right insurance plan in place will help you through the difficult time should you have a flood loss at your home.
Hurricane Season Fast Approaching:
Hurricane season is right around the corner. June 1st is the “official” start to hurricane season, and that is just 37 days away
Flood insurance through FEMA has a 30 day waiting period before it can go into effect. So that means you cannot wait until the storm is on the radar to buy flood insurance.
It has been a while since Maryland has been directly hit by a hurricane or tropical storm, but don’t let that lull you into a false sens of security.
Maryland has been hit by some pretty devastating hurricanes and tropical storms in the past, and it will inevitably happen again. It’s just a matter of when.
So when it happens, you have to be prepared.
Request Your Insurance Quote Now:
Check out our other resources relating to flood insurance:
- Flood Insurance Research Page
- Flood Disaster Preparedness Page
- Flood Insurance Blog
- Flood Insurance For Businesses
If you have any question about insurance, please feel free to give one of our agents a call at 410-647-1111.