Time to buy Flood Insurance

The heavy rain the last few days should remind us how easily this area can flood.  Of the 7.4 million households in Texas, FEMA estimates only 8% are covered by flood insurance. If even a couple of inches of water get inside your home, the damage could cost thousands of dollars. Standard homeowner insurance policies do not cover water damage. You need a separate policy that covers only flooding. Luckily flood insurance is relatively cheap. According to FEMA if your home is in a low- to moderate-risk flood zone, you might be eligible for the "Preferred Risk Policy," which can start as low as $112 a year.

Although the program is underwritten by the federal government, most insurance agents can help you apply for flood insurance. There is a 30-day grace period between the time you apply and when the insurance becomes active. Furthermore, no new policies are written once tropical weather systems start to move toward the U.S. With hurricane season starting in about a month, now is the time to apply. But flood insurance doesn't just protect you from hurricanes. We all know an ordinary thunderstorm can easily dump several inches of rain on this city. That's enough to cause minor flooding which can create major damage if you're not covered by flood insurance.

Visit FloodSmart.gov or call 1-800-427-2419 to learn how to prepare for floods and how to purchase a flood insurance policy.

Comments

[Shaun]

Thanks for the providing good information.I will also suggest to consider buying an auto insurance for your car as it has become inevitable to buy auto insurance these days.