Things you should know about Flood Insurance Coverage

by George Willis Insurance Agency

Don’t think if you are not living in a high flood risk area then it will not happen to you. Homeowners' insurance will not cover the damages caused by flooding unless the flooding causes within the home or from the sky (rainfall). It generally covers water damages caused due to overflowing toilets, bursting pipes, tubs, and sinks. The insurance may also cover the cost of your water heater or dishwasher explodes. Also, it covers if a storm like a hurricane blows off your roof or your home damage due to rain. But, your homeowner insurance will not cover the damage which causes due to the water that comes in the contact with ground outside. The flooding can come from rivers and cause flashy flooding. In such a situation, only a flood insurance policy can pay the cost for damage.

 

Things you should know about flooding insurance

There are some major myths about flood insurance that misguide the homeowners about this insurance. You should understand the facts that:-

 

• Flooding is a risk that can happen anywhere

The first myth is that flood insurance is only required by the people who are living in designated flood zones. In reality, flooding is a potential risk that can be happened anywhere and cause devastating damage.

 

• Homeowner policy will not cover damage from floods

If you think that your homeowner insurance will automatically cover the flood damages then you are wrong. In reality, it is not true! There is no norm like this so you should not assume that your homeowner's insurance covers the flood damage unless it is not defined in the policy.

 

• A small percentage of homes are covered by government programs

Another myth about flood insurance is that government programs will take care of flood insurance. There is a National Flood Insurance Program that ensures the availability of insurance in specific areas. But, it will only cover a small percent of American homes.

 

In case you are hit by flooding then it can lead to a huge loss to your personal possession, major reconstruction work, or even left you homeless for months while your property is made habitable again. It is good to buy the right flood insurance in Virginia to get prepared for this unfortunate situation. 

 

Flood insurance cost in Virginia

 

If you are planning to buy flood insurance in Virginia then you should contact the trusted insurance agency that helps you in buying the insurance. The cost of flood insurance depends on different factors that include geographic location, home value, the elevation of your property, etc. In case your home is in a high-risk flood zone then it cost you a little higher than a low-risk zone. 

 

If you are seeking a trusted insurance firm to buy flood insurance in Virginia then Insurance Piggy Bank agents can help you. It is one of the reliable independent insurance agencies associated with multiple insurance companies and brings the best deal to accomplish your needs within your budget. Whether you are looking for flood insurance Virginia Texas or homeowner insurance, they can help you to get the best deal. 

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Created on Aug 24th 2021 03:59. Viewed 315 times.

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