Flood Insurance

Flood Insurance for a Rainy Day

Bad weather and natural disasters can cause floods to occur inside of homes. With flood insurance, a homeowner receives financial assistance for repairs or replacements. This type of insurance is not a part of traditional homeowner’s insurance, and must be purchased separately.

The Specifics

When a home is flooded, the homeowner calls the insurance agency. The agency sends a specialist to do an appraisal on the damage caused by flooding. The specialist can identify damage that results from the accumulation of water inside or around a home. When preparing to buy flood insurance, keep in mind that insurance rates might get higher after a severe flood. This is due to an increased risk of the disaster occurring again in the near future.

Who Needs It?

Flood insurance is for anyone who owns a home, but most specifically it’s for people who own waterfront real estate. High risk flood areas include those areas close to shores of lakes, rivers and oceans. Small bodies of water like creeks, streams and ponds can overflow and cause serious damage as well. Homes built on elevated platforms or raised terrain might qualify for discounts on flood insurance.


The main benefit is the financial protection that flood insurance provides. Homes along bodies of water are at high risk, and it feels good to have a security blanket. Natural disasters such as hurricanes and tropical storms shouldn’t threaten homeowners’ budgets and livelihoods. With the right insurance, homes can be repaired or rebuilt after severe flooding events.

The main purpose of flood insurance is to protect the home. A good policy will cover flood damage to the home, as well as flood damage to belongings. This also includes attached dwellings like garages and carports. Coverage might not include unattached dwellings on the property – such as sheds or greenhouses. Your best bet is to speak with an insurance agent and learn more about your options.