Why do you need flood insurance?

A flood is defined as an overflow of inland or tidal water, rapid accumulation or runoff of surface water from any source, and a collapse of a land due to excessive erosion due to flooding, landslides caused by accumulations of water in the ground or underground. Any landlord or renter should protect their property and purchase flood insurance.

Depending on your application, a flood policy can cover the home with the contents or just the contents. If you own a home, you must buy both. If you rent the apartment or a house, you can only buy the personal property flood coverage. A flood policy covers the property in the policy description against direct losses caused by floods.

Flood insurance is one of those additional insurance policies that no one wants to spend money on, especially if the property is not located in the flood zone. Unfortunately, many homeowners are left with unpaid claims from homeowners insurance, only to find that flooding is not covered by their homeowners policy.

Buying flood insurance gives you peace of mind like any other insurance and should be purchased in advance. It’s hard to imagine a flooded street in your neighborhood when it hasn’t been flooded in the last twenty years. It’s hard to imagine a flood damaging your personal property during a drought.

Floods are very common in areas prone to tropical rains and hurricanes and in areas where rivers absorb snowmelt during the spring. Sudden rains after drought cause flooding mainly because dry land needs more time to absorb rain. Older subdivisions with clogged storm drains are more prone to flooding. New subdivisions may also have clogged water drains due to construction debris on the street. A new subdivision in the area will increase the possibility of a flood. A meadow or a forest absorbs water very well. If we build a cement-covered town with buildings and streets, the rainwater has nowhere to go and floods the streets.

We all think about buying this type of insurance when the tropical storm is falling or when the local river is rising near our home, but that is not the time to buy it and no insurance company will sell you a policy when there is a hurricane. in the Gulf of Mexico or when you are evacuating. That’s why the flood policy is effective only 30 days after purchase. Insurance provides coverage for unforeseen events. Knowing that a big storm is coming that will cause losses and that is predictable.