Advantages Of Getting A Flood Insurance
Posted by murzzysri on November 20th, 2018
Last year, Hurricane Harvey caused widespread devastation in the Houston area, which contributed to the deadly floods in Texas. A lot of people lost their homes and everything they owned to the floods. It is said to be one of the worst disasters to ever hit the United States of America. Flood insurance is not covered by property insurance. Did you know that most parts of Los Angeles, California, Glendale, Ca are vulnerable to floods? Buying a private flood insurance is an important step to take if you want to protect your family.
People feel that if their house is not near a water body then they do not need a flood insurance. But, the truth of the matter is that no house is safe from floods. Here is a list of five things that you need to know about the flood.
1. Every home is in a flood zone
According to the National Flood Insurance Program (NFIP), about 20% of all the insurance claims are made by homeowners living in areas that are considered to be in low-risk for a flood. This goes to show that even if your area in a low-risk area, it does not guarantee that your house would be safe.
2. A homeowners policy does not cover flood
A lot of people assume that their home insurance must cover flood damage but, the matter of the fact is that it doesn't. Some people have to find out the hard way that their insurance won't cover the charges and that they have to pay for it themselves.
3. Federal Government won't cover the charges
Federal assistance would only be provided if the President declares an area as a disaster. Even then, there will not be a compensation for your loss. You will be able to get a low-interest loan that would have to return in a given time.
4. Floods are very costly
The flood water does not have to gush through your home to cause damage. Just a few inches of water is enough to cause damage that would take thousands of dollars to repair or replace. This is why it is vital that you get a nfip flood insurance done.
5. Flood policies are affordable
When you compare the money that you would have to pay if the flood water reached your home with the money that would be required to purchase the private flood insurance, the latter will always be a better and a cheaper option.
Floods often come without a warning. You just have enough time to gather important items and evacuate. It is a helpless feeling when you can't do anything to make sure your home and all the belongings would be safe. But, if you have flood insurance then your mind would be at ease and you could focus on other things.Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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