Why You Need Flood Insurance

Your home may often be at the mercy of many risks and perils. Even if you’re diligent in implementing protective measures and conducting timely maintenance, certain situations may be beyond your control, potentially inflicting unavoidable property damage and financial losses. Fortunately, the team at Dan Pittman Insurance Agency Inc. is ready to ensure you and your home are properly prepared and protected from such situations by helping you understand the importance of flood insurance.

What Is Flood Insurance?

Flood insurance is a type of coverage focused specifically on financially protecting you and your property from water damage caused by floods. Whether arising from heavy rainfall, rapid snowmelt, overflowing bodies of water or broken water mains and levees, the proper policy can make all the difference in limiting resulting losses.

Why Do You Need These Policies?

One of the most important things to understand about flood insurance is that such coverage is often explicitly excluded from standard homeowners insurance policies. Many homeowners make the critical mistake of expecting their coverage to include flood-related losses, potentially leaving them high and dry in the aftermath of such incidents.

Additionally, you may be subject to certain formal obligations regarding flood insurance. Consider the following situations in which coverage may be required:

• If you have a mortgage on your home with a federally regulated lender and live in an area classified as being at high risk of floods, flood insurance is mandated as long as your loan remains outstanding.

• If you’ve previously received financial aid from the Federal Emergency Management Agency, you’ll need to retain coverage to remain eligible for future assistance.

Even if one of the aforementioned conditions does not apply to you, flood insurance should be strongly considered. Without it, even a small amount of water seeping into your home could have catastrophic fiscal consequences.

We’re Here to Help

Contact Dan Pittman Insurance Agency Inc. today to learn more about flood insurance or get a free quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.