Why do you need flood insurance?

A flood is defined as a flood of inland or tidal water, rapid accumulation or run-off of surface water from any source, and a collapse of a land due to excessive erosion due to flooding, mudslides caused by accumulation of water on the ground or underground. Every homeowner or renter should protect their property and get flood insurance.

Depending on your request, a flood policy may cover the home with the contents or just the contents. If you own a house, you should buy both. If you rent the apartment or a house, you can only buy the personal property flood cover. A flood policy covers the property in the policy description against direct loss through or through flooding.

Flood insurance is one of those additional insurance policies that no one wants to waste money on, especially if the property is not in the flood zone. Unfortunately, many homeowners are left with unpaid claims through their homeowner’s insurance policy, only to find out that flooding isn’t covered by their homeowner’s policy.

Buying flood insurance gives you peace of mind like any other insurance and must be purchased ahead of time. It’s hard to imagine a street in your neighborhood being flooded if it hasn’t been flooded in the past twenty years. It’s hard to imagine flooding damaging your personal property during a drought.

Flooding is common in areas prone to tropical rains and hurricanes and in areas where rivers absorb melting snow in the spring. Sudden rains after the drought cause flooding, mainly because dry land takes longer to absorb the rain. Old subdivisions with clogged rain drains are more prone to flooding. New subdivisions can also have clogged water drains due to the construction debris in the street. A new allotment in the area increases the risk of a flood. A meadow or a forest absorbs the water very well. If we build a cement-covered city with buildings and streets, rainwater has nowhere to go and the streets are flooded.

We all think about buying this type of insurance when the tropical storm comes down or when the local river close to our house is swollen, but that is no time to buy it, and no insurance company will sell you a policy if there is a hurricane in the Gulf of Mexico or when you evacuate. Therefore, the flood policy will not take effect until 30 days after purchase. Insurance provides cover for unforeseen events. Knowing that a big storm is coming that will cause losses and that is predictable.