The majority of homeowners that purchase flood insurance don’t have a choice because they live in a FEMA designated high-risk area and their mortgage lender requires coverage. With that said, flood insurance should be purchased by all homeowners because even just an inch of water in your home can cause thousands of dollars in damage. Although your existing home insurance policy likely covers water damage, it will only kick into gear when water enters your home from the sky, such as through the roof or a broken window. Water that hits the ground first before entering your home is deemed a flood and damage that it causes is excluded from your homeowners’ policy. Furthermore, you cannot count on financial aid from the federal government to repair flood damage because this assistance only happens after the President declares a disaster and the vast majority of flood events do not rise to the level of this declaration.
With flooding projected to get worse in coming years, the flood maps are constantly shifting and while FEMA does their best to update their flood zones, it can be delayed. This means that you could be living in a newly identified flood-prone area, but not know that because the zones are not updated in real-time. For more information, reach out to Access Legacy Insurance Group in Brooklyn, NY. Our friendly, knowledgeable, and customer-centric insurance team are ready and willing to assist with all your questions regarding flood insurance. Give Access Legacy Insurance Group a call today to schedule a no-obligation consultation with us to discuss your flood insurance needs.
