Do You Need Flood Insurance?
Everyone needs water to survive, but sometimes water is the last thing you need. It can cause an extreme amount of danger and even take lives. And when any type of flooding occurs inside your home, you could end up facing huge expenses. Flood insurance is one way to recover following a serious flood. But this insurance is for damages caused by water from outside your home. If your flood is caused by a leaky pipe or bathtub, then insurance will not cover that expense.
Flood insurance is basically for people who live in a high-risk flood zone or an area prone to flooding. Your home could flood no matter where you live, so you might want to consider this coverage even if you aren’t in a flood area. Consider the pros and cons of having coverage and remember that floods occur without warning.
When purchasing a policy, take time to learn what it includes and excludes. It’s likely that not all flooding events are covered. And flood damage can also cause mold growth. If that happens, you’ll have to pay someone to remove the mold. Check to see if your policy covers such a procedure. If not, ask if it’s an option for you to add. The goal is to know exactly what your flood insurance covers.