It is important to know that Flood losses are not covered by standard homeowner’s insurance policies. If you live in an area that experiences frequent hurricanes and harsh storms, this can be potentially devastating financially.
Floodwaters have the power to damage not only your home and sense of security, but also your financial future. How can you protect your most important investment in case of flooding?
Option 1: Hope that you'll receive Federal disaster relief if a flood hits.
Many people mistakenly believe that the U.S. government will take care of their financial needs if they suffer damage due to flooding. The truth is that Federal disaster assistance is only available if the President formally declares a disaster. Even if you do get disaster assistance, it's often a loan you have to repay, with interest, in addition to your mortgage loan that you still owe on the damaged property.
Most importantly, you must consider the fact that if your home is flooded and disaster assistance isn't offered, you'll have to shoulder the massive damage costs alone. The bottom line is that if you're looking for secure protection from financial loss due to flood damage, Federal disaster assistance is not the answer.
Option 2: Buy flood insurance and stay protected no matter what.
When disaster strikes, flood insurance policyholder claims are paid even if a disaster is not federally declared. Flood insurance means you'll be reimbursed for all your covered losses. And unlike Federal aid, it never has to be repaid.
In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you go to purchase coverage, it's already too late. You will not be insured if you buy a policy a few days before a flood.
What is Flood Insurance?
Standard Texas Flood Insurance Policies apply to homes, condominiums, mobile homes and rental or business properties located in Special Flood Hazard Areas. They also cover properties in low to moderate risk zones that do not meet the requirements for a Preferred Risk Policy including non-residential and 5+ unit buildings. If you meet the criteria for a Flood Insurance Policy, coverage is obtainable for your building and personal property. Flood Insurance coverage cost is dependent on your flood zone risk area.
What coverage is included under a standard Flood Insurance Policy?
Building Coverage, Contents Coverage and Replacement Cost Coverage are all available under a Flood Insurance.
What does Building Coverage Include?
Building Coverage is designed to protect the structure of your home or business. Above-ground appliances and other items of property are considered to be part of the building and are included:
Why Do I Need Contents Coverage?
You always want to consider coverage for your personal property as well as coverage for the structure of your building. Your personal belongings help make your place of residence a home. You don't want to risk losing them in the event of a flood.
Contents coverage includes:
Not all flood insurance policies contain contents coverage so be sure to talk to your insurance agent to make sure you have the right coverage for your needs. Our qualified insurance agents are ready to answer your questions and match you with the best policy for your unique needs. Call us at (281) 398-1010 to get started today.
We offer flood insurance for families in these cities and more: