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Do you need flood insurance?

Do you need flood insurance?

It may be the million dollar question! Or at least a very important question!

If your home is in a designated flood zone, then sure……your lender probably requires that you have flood insurance OR it’s just a smart financial decision for your household.  But what about those homes that don’t fall in the flood zone, that haven’t flooded before? Do you need flood insurance? As an agent that has seen flooded home after flooded home, many without flood insurance, it’s hard to say no.  What I will say is this – at least KNOW what your options are before you say YES or NO! 

  1. Flood Insurance is NOT included in your Homeowners policy – but must be purchased as a separate policy.
  2. A flood policy can be as low as $516 a year and the cost will vary depending on the value of your home, your flood risk, your coverage options, etc.
  3. Most flood policies have a 30-day waiting period before coverage begins (So no – you cannot wait until a storm is tracking for the Texas coast to get coverage).
  4. A flood insurance policy will cover your home up to $250,000.

To find out more – our team is happy to help. Give us a call or stop by either of our office locations! 

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