Approximately 25 million American homeowners could benefit from flood insurance but only about five million actually own a flood insurance policy. Far too many people assume flooding is covered under their homeowner insurance policy. Others think they don’t need separate insurance because they don’t live near a major body of water. However, homes are frequently destroyed by flooding creeks that rarely escape their beds. Because lenders don’t require home buyers outside of flood zones to purchase insurance as a condition of the loan, many families who could benefit from flood insurance save their money and assume the risk of water damaging their homes.
In reality, it doesn’t matter how far inland a home is, everyone can benefit from flood insurance in Tomball. Rising creeks were responsible for flooding homes and roads in 2016 and those without insurance were left to pay for their own cleanup and repairs. The costs associated with a serious flood might also involve finding alternative living arrangements for a brief period of time. Depending on how long the home was wet, a homeowner might also need to hire a company to do mold remediation. With Flood Insurance in Tomball, these expenses would be covered. With only homeowners insurance, all or most of them will not. Although the federal government provided some funding, it didn’t cover all of the cost for everyone who was affected by the high water.
There’s no question that flood insurance is expensive. In fact, it’s projected to get even more expensive. There are a couple of things a family can do to protect their home as well as their budget. The first thing is to compare rates. The company that sold a family’s homeowner and auto insurance might offer a discounted rate for their flood insurance. Homeowners should Contact us right away for a quote. Another option is to do a risk assessment. It’s possible that the home wouldn’t be severely damaged if flood waters came through the neighborhood and the cost of insurance wouldn’t be a wise investment. Each individual homeowner must make this assessment on their own and as soon as possible. When the creeks start to rise again, it’s going to be too late to call an agent and purchase flood insurance.
