Every homeowner should invest in flood insurance. This is because flooding happens at least once in a year. The problem is that majority of homeowners are reluctant in protecting themselves against such a natural calamity. In fact, there is a general assumption that flood insurance coverage is only meant for people that dwell close to rivers and lakes. The truth is that floods cause havoc even in homes that are far from large water bodies. When such a disaster strikes, many people are left without shelter. The damage that is left behind is usually hard to account for. If you thought home insurance is all you need, here are facts that will enlighten you on the importance of cautioning your property against disasters that are caused by Mother Nature.
- Flood Damages not Covered by Homeowners Insurance
Most people assume that they can get compensated after their home is destroyed by floods simply because they have invested in homeowners insurance. This is actually a white lie. Regardless of your insurance provider, if you read between the lines of the agreement, you will see that the homeowners insurance can only compensate you if your home is brought down by fire. This means that homeowners insurance is useless when your property is damaged by floods. At the end of it all, you will have to repair your property with your own money. But the story is different when you have flood insurance. For a start, the insurance provider will offer you a temporary dwelling place as they repair your former residence. They will even furnish the home and replace all the appliances that were damaged by water.
- Affordable Premiums
Some people will tell you that flood insurance is an expensive affair. Contrary to common belief, flood insurance is much affordable than other types of coverage. When you apply for the insurance, the coverage provider will assess your region and determine the amount that you will be paying as premium. Clients that live deep into the main land are required to pay subsidized premiums than those who live close to rivers or lakes and dams.
- Federal Government Doesn’t Assist Flood Victims
When floods are reported by the weather department, the federal government usually acts fast by rescuing those who are trapped in their homes. However, the government only provides temporary shelter and relief food for a short period of time and then abandons the victims. This means you have to fend for your family and find accommodation for yourself and those who depend on you. When you are covered against flood insurance, you can be sure that you will find a place to stay in a matter of few days if not hours.
- Home Repairs are Costly
Anyone who has ever been a victim of flooding will tell you that renovating a home can cost an arm and a leg. This is because there is hardly anything that can be salvaged. Most flood victims argue that one needs to have at least $ 20,000 to be able to repair such a home .You are therefore left without an option but to build your home from scratch. When you have home insurance, you don’t have to worry about such expenses because they will be handled by the insurance provider.
- Floods are Inevitable
Floods happen without a warning, meaning they come around when they are least expected. In fact, there is not much you can do to prevent floods from causing trouble in your home. This is because there are many issues that can trigger flooding including excess rain, hurricane, overflowing dams, tidal surges and wild fires. Unlike a fire that can be countered by installing smoke detectors and fire extinguishers, there is nothing you can do to stop floods from happening except investing in insurance coverage.