In 2017, Southeast Texas dealt with the impacts from a Category Five storm known as Hurricane Harvey. The majority of residents in this region experienced damage to homes, displacement, and loss of property. Most homeowners who suffered property or home loss are still dealing with that reality over three years later.
This situation is even more difficult because homeowner’s insurance does not come with a flood protection policy. So, unless you or your agent have the foresight to remember the importance of this type of policy, a flooded home could spell disaster.
Your regular homeowner’s insurance policy does not cover flood insurance. Furthermore, although it is not necessarily required by law, many mortgage lenders and brokers will require it. The climate, terrain, and sometimes unpredictable natural disasters in Southeast Texas make flood insurance an absolute necessity.
What Does Flood Insurance Cover?
Flood insurance is nearly always a comprehensive way to cover the cost of rebuilding your home after a flood. The standard flood insurance policy will cover plumbing, HVAC systems, built-in furniture, appliances, foundation damage, support structures, carpeting, or other types of flooring. Typically, ten percent of your coverage can go toward rebuilding a detached garage.
While your flood insurance policy will cover the majority of rebuilding costs for your home and garage, it is also essential to understand what policy exclusions you might see. For instance, erosion due to flooding, damage to the sewer system, lost income, and vehicle damage is examples of possible exclusions. Furthermore, detached property and relocation costs are usually not covered.
There are several different options you can choose from when deciding on a flood insurance policy. The federal government offers insurance coverage for participating communities through the National Flood Insurance Program (NFIP). These policies provide a maximum coverage limit of $250,000 for your home’s structure and $100,000 for its contents. This type of flood protection plan will have coverage from the Federal Emergency Management Agency (FEMA).
On the other hand, choosing flood insurance from a private insurer also has its benefits. For instance, the limits of coverage can exceed those put in place by the NFIP. When considering which coverage option might be right for you, contact the professionals at Texas Insurance Agency. We will help you choose the best insurance coverage while also offering a selection of competitive rates.
Choose Texas Insurance Agency!
The team of insurance agents at Texas Insurance Agency has been in the business of providing clients with affordable policies for many years. We take pride in providing honest service that gets you the coverage you need and deserve.
When you choose to partner with our team, know that you can have peace of mind that your home and property are covered. In addition to flood insurance policies, we can also help you find the best policy for your business, boat, motorcycle, or vehicle. We also offer life insurance. Give our team a call today!