Most Homeowners Insurance Doesn’t Cover Flood Damage
Auto & Home
Consider separate coverage for floods.
Of all the forces of nature, flooding is one of the most damaging. So why isn’t it covered by Homeowners insurance? Claims for flood repairs can be exceedingly expensive, so including coverage for floods in standard insurance policies would raise rates substantially, making policy premiums unaffordable.
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But water is a house’s worst enemy. Flood damage can cause dangerous mold, destroy flooring, cause wood rot in doors and window frames, and so much more. Remediation and repairs for each of these individual issues can be cost prohibitive.
Flood insurance can cover your home, the contents in your home, or both, so it can be a financial life saver.
According to FEMA, every state has experienced floods. In fact, over 20% of flood claims come from moderate-to-low risk regions.2 So even if you don’t think you’re prone to flooding, you might want to reconsider.
Hurricane Ian, which wreaked havoc on Southwest Florida in late 2022, was one of the most intense storms in recent memory, and more destructive than the cyclones of the 1930s.2 The storm caused billions in flood and wind losses.3 Unfortunately, many local homeowners didn’t have flood insurance.
It’s important to protect your most important financial assets — your home and your possessions. So, before you faceoff with the next major storm, be sure to speak with an agent about your flood insurance options.
1https://www.fema.gov/flood-insurance
2https://www.fema.gov/flood-insurance
3 Allison Finch. Florida Faces Grim Reality: Hurricane Ian is Deadliest Storm in State Since 1935. October, 3, 2022. https://www.accuweather.com/en/hurricane/florida-faces-grim-reality-hurricane-ian-is-deadliest-storm-in-state-since-1935/1257775
