Flood Insurance MythsWhen you call RestoPros for help with smoke damage, water damage, or a mold infestation, one of the things we do is work with your insurance company.  But to do that effectively you need to have insurance in the first place.  Not all homeowner or renter insurances policies cover every aspect of the home or source of damage.  One of the more misunderstood insurance plans is that of the flood insurance plan.  These plans are neither mandatory (unless you live in a flood prone area) nor are they part of most home insurance plans.

Flood Insurance is Available Everywhere

While flood plains and high-risk areas often require flood insurance for a mortgage or financed home, that doesn’t mean you have to be in an at-risk home to get flood insurance.  Flooding can be a problem during heavy rains or, for certain situations, burst water mains that can flood your home or apartment.  Since flood insurance is separate from standard insurance, it’s worth taking a look and getting a risk assessment.

Flood Insurance Does Not Cover Everything

Take a careful look at what your policy does and does not cover and in what amounts.  Some policies are focused more towards covering physical structures, reducing costs for repairing your building, while others are focused more on loss of possessions.  Read through documents carefully and balance your insurance based on what’s important to you.

At the same time, not all flood insurance covers every instance of water damage.  Flood insurance and water damage are related but aren’t the same thing.  A damaged roof that leaks in water and causes ‘flooding’ is not the same as damage caused by a flash flood.  Some elements are covered by your homeowners insurance and others will be covered through the flood insurance policy you select.  Review both and identify any places where they overlap or spots where the policies fail to cover such as water back-up insurance.  If there’s a hole in your insurance you may find yourself having to cover damages out of pocket.

Once a Flood Plain, Always a Flood Plain

Landscapes change over time.  In the city, as new developments are made and city blocks are restructured, flood plains and flood risks change.  Some sites, such as floodsmart.gov are designed to keep you up-to-date on which areas are at risk and which are now safe from potential flooding.  If you’re concerned that heavy rains in the future may lead to flooding, or are considering purchasing a new home, check to see what the chance of flooding is.  If the risk is high, invest in quality insurance and store valuables in high areas of the home.

Flood insurance is a worthwhile tool and will help to offset the costs of restoring your home from water damage, structural damage and mold growth in the event of a flood.  Insurance is the best way to handle damage to your home in the event of a disaster and is always purchased separately from  regular renter’s or homeowner’s insurance.


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