Texas Flood Insurance
Floods are the number one natural disaster in the United States, causing more than $2.4 billion of property damage each year- a hefty bill that is generally not covered by homeowners insurance. For individuals living on the coast, near a lake, or riverside, the need for flood insurance is an obvious one. However, the threat of water damage is not so readily apparent to most other homeowners. The fact is, every home in the United States is at some risk for flood. Dramatic weather patterns and land development are reducing the earth’s capacity for water absorption and increasing the risk of floods- even for homes that aren’t near water!
Did you know that for as little as $425 a year, you can protect your home and belongings from a flood disaster?
Do I Need Flood Insurance?
Most homeowners insurance policies do not cover damage caused by flooding. Consequently, it is important to secure a flood insurance quote for your home. If your community participates in the National Flood Insurance Program (NFIP), you can buy flood insurance coverage through agents enrolled in the NFIP-Direct program.
Another thing to keep in mind, is that there is a standard 30 day waiting period for new applications as well as for endorsements to increase coverage. The 30 day waiting period does not apply if flood insurance coverage is a requirement of the lender at the time of closing.
(Texas residents only, please.)