While it is not required, flood insurance can be highly beneficial even for properties that are not located in a flood zone. Many property owners tend to assume that their property insurance provides adequate coverage in the event of a flood. However, flood damage is often a dicey subject when it comes to your insurance policy.
Flood insurance requirements are based on FEMA (Federal Emergency Management Agency) maps that are often outdated or don’t include all the types of flooding a property can encounter. Whether a property is in a flood zone or not, it can still be at a risk of flooding and the associated damages.
3 Reasons You Should Get Flood Insurance
Even if your property doesn’t sit inside a flood zone, you may still want to have flood insurance. You may not have considered this, but floods, including flash floods, are the number one natural hazard across the nation.
The following are three reasons you should get flood insurance, even if your property is not in a flood zone.
#1: A small amount of water can create extensive damage
Whether it is a slow leak overtime, a hemorrhaging pipe, or a flood, water exposure inside your property can lead to extensive damage. Having a separate flood insurance policy can often help mitigate the financial loss of moisture/mold remediation and repairs that may need to be done.
#2: Hurricanes are not the only cause of flooding
Many individuals may assume that flood insurance is only for those in flood zones or for properties that are at risk of flooding from hurricanes or heavy rainstorms. But flooding can result from a variety of scenarios, such as inadequate drainage systems, a burst fire hydrant, or an overflow of an underground plumbing system.
#3: Insurance claims for flood damage happen in low-risk flood areas
While flooding may be less likely to occur outside of a flood zone, floods still happen in moderate or low-risk flood areas, too. In fact, according to FEMA, over 20% of NFIP (National Flood Insurance Program) flood insurance claims come from outside the limits of high-risk food areas.
Be Prepared with Flood InsuranceIf you are not in a flood zone, having flood insurance may not seem that important, but having it can be highly beneficial and save you a few headaches and a financial loss.
If you still aren’t sure if you should consider getting flood insurance, or if your property has flood damage and you need to file an insurance claim, we can help. At Reliant Insurance Adjusters, we specialize in both commercial and residential insurance claims that include water and mold damage, fire and smoke damage, hurricane and wind damage, and more.
In addition, we are Certified Property Insurance Appraisers & Umpires (CPAU) with the Insurance Appraisal & Umpire Association and the Windstorm Insurance Network. We also provide independent Pre-Loss Property Inspections and detailed estimating services. Contact us to learn more about how we can help you.