Any homeowner who lives in a flood zone should consider flood insurance. Even if it’s a vacation home, the property needs protection from floods. A flood zone is highly likely to experience dangerous flooding that can destroy property and lives. But traditional homeowners insurance doesn’t cover flood damage. That’s why it’s important to learn if you need flood insurance.
What is a Flood Zone?
An official flood zone is an area that’s prone to flooding. It could be near a large body of water, like a river. Or it could be an area that experiences hurricanes. FEMA keeps maps of every known flood zone in the US. You can check the Flood Map Service Center online to see if your property is in a flood zone.
What is a Flood for Insurance Purposes?
Flood insurance doesn’t cover simple water damage. If your home suffers water damage from a broken pipe, that’s not considered flood damage. Flood damage is when water from an outside source causes destruction to your home or property. The flood must also affect other locations in the area beside your own.
What Does the Policy Cover?
Flood insurance is for the structure of the home and your belongings. The foundation is covered should it become damaged by flood waters. Your personal belongings, such as electronics and clothes, are covered as well. Your policy will help you repair or replace items up to policy limits.
Benefits of Coverage
If you’re in a flood zone, you’re taking a risk by not having flood insurance. Your homeowners’ insurance will help with most common mishaps, such as fire or vandalism. But it won’t help with damage from a flood. You’ll have to pay for repairs and replacements out of pocket unless you have a flood insurance policy.