We all live in a flood zone. It's just a matter of how risky the area can get with high-risk areas expected to flood at least once a year. If you live in a high or moderate risk area, the National Floods Insurance Program recommends buying flood insurance to protect your home from damage. You can rely on the Platinum Insurance Group for all your insurance needs.
Why should you buy flood insurance?
While flood insurance is not a requirement in most states, it is critical to consider the policy while taking in mind the damage and loss that it can cause. You should also note that home insurance does not cover flood-related damage.
You can never underestimate floods.
If you live in a flood hazard area, insuring your home should not be optional. Additionally, living outside the designated flood-prone area doesn't mean that you are entirely safe from floods. Floods, particularly heavy floods, can damage a wide range of properties in a short time. You may not always be lucky. You can buy the minimum coverages to be on the safe side.
Flood insurance is affordable.
If you bought your home through a mortgage and your area is marked as a high-risk area, your lender may require you to purchase flood insurance to cover for the damage the floodwater may cause. In most cases, flood insurance is affordable for any eligible homeowner.
The damage can be costly.
Lastly, flood damage can be catastrophic. Floodwater can cause damage worth billions of dollars in a matter of minutes. It doesn't have to be extensive, just an inch of water in your house is enough to cost you thousands of dollars. If you do not have flood insurance, you may need to cover these costs from your pocket.
Flood insurance is a critical financial plan for any American homeowner. If you are looking to shop for one soon, Platinum Insurance Group is here to help. Feel free to contact our insurance agents for more information or any questions you may have.