5 Things You Should Know About Flood Insurance

Spring is here and the rainfall has already started. Rain is essential to keep our lands healthy but can also cause lots of unwanted damage.

Residents and businesses should contact their insurance agent to review their flood insurance policies, or lack thereof, to see where they may fall short. The damage caused by flooding can be severe and sometimes devastating to your property and premises. According to FEMA, just one inch of water can cost more than $25,000 in damage. Don’t assume flood claims are covered under your current insurance policies.

Here’s five things you should keep in mind about flood insurance:

  1. Waiting periods – Don’t wait to obtain flood insurance, there is typically a 30-day period before your policy goes into effect. Waiting until hurricane season is upon us may be too late, act now.
  2. Homeowners – Typically standard homeowners insurance policies don’t cover flood damage. While your policy may cover the damage from a busted pipe, it won’t cover excessive rain or even a backed up outside sewer. Flood prone areas are mapped and mortgage lenders will require you to have flood insurance if your property is located in a flood zone. But what if you aren’t in a flood zone? Do you need flood insurance? Flooding can occur anywhere, and statically 20% of all National Flood Insurance Program (NFIP) flood claims come from people outside of high-risk flood zone.
  3. Renters – Don’t assume because you rent you don’t need flood insurance. It is possible your landlord has not invested in a flood policy. If your landlord hasn’t and you experience a flood, your personal belongings would most likely not be covered.
  4. Businesses – Offices are usually stocked full of costly furniture, technology, and files. What happens if torrential rain causes the water to rise outside and your office floods? If you don’t have a commercial flood policy, you could be stuck paying for the water damage and even mold remediation. Just like your typical homeowners insurance policy, your commercial property insurance usually doesn’t cover flooding.
  5. Educate – Know your options and educate yourself. Do you know the difference between water damage vs. flood damage?  If not, check out our previous blog that talked about it CLICK HERE. Just because you’re not living or working in a designated high-risk flood area doesn’t mean you won’t be affected. Take the time to check out FEMA’s National Flood Insurance Program for more information on flood zones, maps, and preparation tactics or call NFIP call center at 800-427-4661.

There is a lot of myths about flood insurance, but one fact, flooding will happen every year and in every state.  The question then becomes, will you be affected? Clogged drains, backed up outside sewers, etc. can happen to anyone. Does your insurance cover you? Contact a licensed insurance agent today to see if you have proper coverage.  Flood insurance shouldn’t be an option but a necessity in everyone’s insurance arsenal.

Have questions about your personal or commercial insurance? Contact us to speak with a licensed insurance professional.


Disclaimer: All data, information, and opinions provided on this article, newsletter, or blog is for informational and educational purposes only. While every caution has been taken to provide readers with the most accurate information and honest analysis, please use individual discretion before making any decisions based on the information in this article, newsletter, or blog. Georgetown Insurance Service, Inc. is not responsible if its readers happen to experience loss, injury, or damage resulting from its display or use. All information is provided on an as-is basis. This article, newsletter, or blog does not represent the thoughts, intentions, plans, or strategies of any specific Insurance Carrier, Georgetown Insurance Service, Inc. partner or affiliate.
Have questions? Contact Us to speak with a licensed insurance professional.

6 thoughts on “5 Things You Should Know About Flood Insurance”

  1. My husband and I bought our first home about two months ago, and one of our neighbors had their basement flood last week, so we are now thinking about getting flood insurance! I had no idea that typical homeowners’ insurance plans don’t actually cover damage from floods, and I will have to share this information with my husband. Also, I think it would give us peace of mind to contact a licensed insurance agent who can help us get this coverage.

    1. We’re glad you found the information helpful and thank you for reading our article. We have a library of helpful articles on our website which you can access here https://www.georgetownins.com/about-us/blog/ or you can also use the search field near the top of the website to search for any key words on our website. Additionally, you can sign up for our quarterly newsletter here https://visitor.r20.constantcontact.com/manage/optin?v=001DWEiOj7A54hgge2WE1KhpYIspGdCmgIJ6GZJX3in2bzzTBk4IrM68K3NBfpGxXvRY0qenzcjY97IEDVrd2hmkHiWJqz3O4fftv9Q4CrQa8E%3D
      Best regards,
      Georgetown Insurance Service
      an Alera Group Company

  2. It is interesting that this post pointed out that homeowners insurance is important as it protects us from water damages. The other day my sister mentioned that she is planning to buy a new house. I will remind her to ensure she gets the right coverage against water damages.

    1. We’re glad you found the information helpful and thank you for reading our article. We have a library of helpful articles on our website which you can access here https://www.georgetownins.com/about-us/blog/ or you can also use the search field near the top of the website to search for any key words on our website. Additionally, you can sign up for our quarterly newsletter here https://visitor.r20.constantcontact.com/manage/optin?v=001DWEiOj7A54hgge2WE1KhpYIspGdCmgIJ6GZJX3in2bzzTBk4IrM68K3NBfpGxXvRY0qenzcjY97IEDVrd2hmkHiWJqz3O4fftv9Q4CrQa8E%3D
      Best regards,
      Georgetown Insurance Service
      an Alera Group Company

  3. Wow, I had no idea that flood damage isn’t included in homeowners’ insurance, and getting one of these can help you pay for any damage in your property caused by a flood. My uncle recently moved to a flood-prone area, and after reading this article I believe it can help him. I’ll be sure to share this with him so he’d consider it.

    1. We’re glad you found the information helpful and thank you for reading our article. We have a library of helpful articles on our website which you can access here https://www.georgetownins.com/about-us/blog/ or you can also use the search field near the top of the website to search for any key words on our website. Additionally, you can sign up for our quarterly newsletter here https://visitor.r20.constantcontact.com/manage/optin?v=001DWEiOj7A54hgge2WE1KhpYIspGdCmgIJ6GZJX3in2bzzTBk4IrM68K3NBfpGxXvRY0qenzcjY97IEDVrd2hmkHiWJqz3O4fftv9Q4CrQa8E%3D
      Best regards,
      Georgetown Insurance Service
      an Alera Group Company

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