The Greater Houston area calls for flood insurance more than many other regions in the United States. With frequent rainfall and the chance for tropical storms or hurricanes, residences should consider flood insurance. Flood insurance is beneficial because it helps replace damages done from water, unlike many other insurance policies.

Unfortunately, there are many myths floating around about flood insurance that should be addressed. These myths could hurt you if you are not careful. Often times, residences assume these details about flood insurance, and it ends up hurting them substantially. Do not let these flood insurance myths ruin you financially.

Myth: Flood insurance is included in the homeowner’s insurance.

Often times, homeowners assume their homeowner policy covers flooding. That could not be further from the truth. Flood insurance is almost never included in homeowner’s insurance. Unless it is prominently stated, do not assume your homeowner’s insurance covers floods. Businesses should also consider flood insurance as commercial general liability does not cover flood insurance either.

Myth: Only homeowners can receive flood insurance.

Is your apartment complex prone to flooding? Consider flood insurance to protect yourself.

Homeowners are not the only residents who can purchase flood insurance. If you live in an apartment, townhome, condo, or another type of home, you can purchase flood insurance. Many apartments require renter’s insurance which does not cover flood insurance. So, renters will need to purchase a separate flood insurance policy.

Myth: Floods do not cause a lot of damage.

Standing water in a home can cause significant damages. In fact, just five inches of water can lead to at least $25,000 in damages. Water will seep into the floors and walls, which promotes mold and mildew growth. Subsequently, the cost to remove the mold will lead to even more costs.

Myth: Flood insurance is only for those who live in a flood hazard area.

Flood insurance is for anyone. Even if you do not live in a flood hazard zone, you should still consider flood insurance. Torrential rain or a broken water pipe can lead to your home being flooded. Make sure you are protected even though you are not at high risk.

Obtain Flood Insurance

If you want to protect your belongings and your finances, then obtain flood insurance today. Contact Texas Insurance Agency today by calling (281) 398-1010. Our agents will work with you and our insurance company partners to find the right policy for your needs. Flood insurance is beneficial in many ways. Do not let these myths cause you to lose money.