Flood Insurance 101: Do You Really Need It?
Flood insurance probably isn’t something you think about often—until a storm rolls in and water starts rising. By then, it’s too late. So, is flood insurance really necessary, or is it just another add-on you can skip?
Wait…My Home Insurance Doesn’t Cover Flooding?
Short answer: Nope.
Standard homeowners insurance does not cover flood damage. That means if a big storm rolls through and turns your basement into an indoor pool, you’d be on the hook for repairs unless you have a separate policy responsible for any flood damages. Many homeowners don’t realize this until disaster strikes, and by then, the damage (and cost) is already done.
Do I Really Need Flood Insurance?
You might think flood coverage is just for people who live right on the coast or next to a river, but here’s the reality—flooding can happen anywhere. In fact, about 25% of all flood claims come from low or moderate risk areas.
You should consider flood insurance if:
- You live in a high-risk flood zone (your mortgage lender might even require it).
- You’re in a low-lying area that tends to hold water after storms.
- You’ve seen street flooding or water pooling near your neighborhood.
- You just don’t want to gamble with potential damage costs.
How Does Flood Insurance Work?
Flood insurance covers damage to your home and belongings caused by rising water—whether it’s from a storm, overflowing river, or flash flood. Here’s a quick look at what’s typically covered:
- Building Coverage – Includes the structure of your home, foundation, electrical, plumbing, HVAC systems, and built-in appliances.
- Contents Coverage – Covers personal belongings like furniture, clothing, electronics, and portable appliances.
What’s not covered? Things like landscaping, outdoor furniture, and temporary housing costs aren’t included. It’s important to check the details of your policy to know exactly what’s covered.
The Bottom Line
Flood insurance might not be something you think about every day, but if the unexpected happens, it could save you from a major financial headache. Water damage is expensive, and standard home insurance won’t cover it. So, before the next storm rolls in, it might be time to look into coverage in case of a flood —you’ll thank yourself later.
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