Most homeowners do not realize that they need special flood insurance. Homeowners buy standard home insurance for their home and think that flood damage is automatically included. Unfortunately, the recent floods in Vermont have proven that this is not the case. If your home is not covered by flood insurance you will be held responsible for any flood damage to your home. The amount of damage that can be caused by a flood is unbelievable. Flood insurance is not expensive, most people just do not realize they need this insurance.
There is more awareness after the floods in Vermont. It was announced that only 17% of homeowners were covered in the area of the floods. This tradegy has opened the eyes of other homeowners. Many insurance agencies have also become aware of the huge difference in those covered by standard home policies and those covered by flood insurance. Insurance offices are beginning to recommend flood insurance. Homeowners ae becoming more aware of the need for this special insurance. There are still others that do not realize that they live in a flood zone.
Flood insurance has always been available to customers living in flood zone areas. Insurance companies have not pushed for the inclusion of flood insurance in a homeowners policy. There are many homeowners that have never been asked if they wish to buy this extra coverage. There are more areas that flood each year. This increases the need for flood insurance. Once the coverage of floods and other natural disasters is known about, the more policies that will be sold. Once people are aware of the insurance they generally have no problem paying extra for this benefit.
Flood damage to a home can be tremendous. Homeowners do not realize just how much damage water can do to a home. Not just the wet floors but damage to the walls and foundation. Foundations that are continuously wet over and over will begin to deteriate. The homeowner is left not only with damaged goods but could also lose the house itself to damage. Homeowners do not want to lose their homes because they did not properly insure the home. If the house is not structurally damaged there is still a lot of damage that has to be cleaned up immediately or the problem will spread throughout the home.
Buying flood insurance if you are in a flood zone is one of the smartest investments you can make. There are many homeowners that have special insurance because they live in other areas that experience weather damage caused by tornadoes or hurricanes. Extra insurance helps the homeowner regroup after a disaster. The well being of the family living in the home will not depend on the storm that damages the home. Recovering after the storm however, may depend on special insurance. Flood insurance is not expensive. For most homes the cost of flood insurance can be added into the standard homeowners policy. Insurance to repair the damge caused by a flood will always be cheaper than repairing the damage yourself.
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- Navigating Your Policy ? Flood Damage
- The Most Common Insurances ? Fire And Flood Insurance
Source: http://journalonline.me/27490/flood-insurance-homeowners-insurance/
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