Flooding is the most common natural disaster in the U.S. It’s also one of the costliest. Ensuring you understand flood insurance and how it works is vital for protecting your home and possessions.
There are plenty of myths surrounding flood insurance. Read on to learn the facts.
Myth: You don’t need flood insurance if you don’t live in a high-risk zone.
Fact: Floods can happen anywhere, and more than 40% of NFIP (National Flood Insurance Program) claims come from areas that are not high-risk.
Myth: You can’t purchase flood insurance before expecting a flood.
Fact: Flood insurance can be purchased at any time. However, some policies have a waiting period before your plan goes into effect.
Myth: Homeowners’ insurance will cover damage caused by flooding.
Fact: Unfortunately, homeowners’ insurance doesn’t cover repairs for flooding. However, your homeowner’s insurance company may be able to help you find a flood coverage plan that works for you.
Myth: If your property has been flooded before, you can’t purchase flood insurance.
Fact: Regardless of your home’s flooding history, you can still purchase flood insurance.
Myth: Water damage caused by wind-driven rain can be covered by flood insurance.
Fact: Damages caused by wind pushing rain into the building are not covered by flood insurance as it’s considered windstorm damage.
Source: FEMA.gov
