Home Insurance – Flood Insurance

If you thought that just because you have a home insurance coverage you are home and dry on all issues then you may be making your biggest mistake yet. Home insurance does not cover some perils by default. If you studied the fine prints in your policy you would see this. One of the perils not covered by default is flood. Do you need flood insurance? Make your decision after you have had time to go through the following facts.

First what is flooding?

Flooding is defined by the Federal Emergency Management Agency (FEMA) as a condition which occurs when there is a general and temporary state of total or partial covering of more than one acre of a normally dry land or property as a result of one or more of the following:

– Over-running of tidal or inland waters,

– A river of flowing liquid mud running on usually dry areas known as a mudflow,

– An abnormal and quick accumulation or runoff of surface waters coming from either a mudflow (as explained above), the collapse of land along shore lines of any body of water due to erosion or an overflowing of the water body.

1, About 33% of claims arising from flood related cases come areas not usually considered to be flood prone.

2, The most commonly occurring natural disaster is flash floods and floods with occurrences reported in the fifty states.

3, Living close to a water body is not the only thing that predisposes you to experiencing lose from flooding.

4, You can experience flooding and flooding related losses as a result of heavy rainfall, inadequate drainage system, melting snow, hurricane etc.

5, You can experience losses amounting to thousands by just having water a few inches deep in your home.

6, The general loss arising from flood related issues all over the country amounts to over $2 billion.

7, Over the period of a normal mortgage period which is about 30 years, your chances of experiencing flooding is 26% and

8, No one is free from this as we all live in flood zones.

It is very important to understand what flood insurance offers. Whilst your home insurance offers you the rebuild cost of your home or value of your personal possessions, flood insurance would help you get back on track. Please note that you can not make a claim on your flood insurance if your home is flooded as a result of a broken pipe or other avoidable breaks unless they were in any way caused by flooding.

It is highly important that you get your home fully covered and you can not claim this if you do not have cover against flooding. Your regular homeowner policy would likely to provide this cover so you would need to specifically go for it. The usual way to get any coverage you need for your home is by getting and comparing free home insurance quotes. Get these free home insurance quotes from quotes comparison sites online now and begin to enjoy full coverage at the cheapest rate.

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