Flood insurance covers your home from flood damage, a danger to which many people believe they are immune.
Many people believe that because they are not in a flood zone, they do not require flood insurance. Many of those people are the ones who are surprised to find out that flood insurance is not covered under their homeowners insurance policy. Yes, it’s a nasty truth that could have easily been avoided if they reviewed their policy, or simply read this article! If you do not want to be caught off-guard, here are a few things you need to know about flood insurance.
- It is Not Included in Anything
If there’s only one thing you take away from this article, it should be this: homeowners insurance does NOT cover flood damage. You must purchase flood insurance separately, and for that, your insurance agent can help you get the policy that meets your needs.
- Flood Insurance Premiums Vary on Risk
Every region is divided into zones, which vary on flood risk. Your flood insurance premium is influenced by your risk assessment. A home that resides in a high-risk zone pays more than one in a low-risk zone.
- Lenders Will Likely Require It
A home is an expensive investment, both for you and the bank or lender. The lender wants reassurance that they will get their money back, should the worst happen. If your home lies in a high-risk plane (and plain, in some instances), you will pay more for your flood insurance premium.
Your home can be protected from flood damage, but only if the right flood insurance policy is in place. Contact the professionals at Lou Aggetta Insurance Services, serving Pleasant Hill and neighboring areas with quality policies in California!