As a homeowner, you always take the necessary steps to protect your property, from maintenance and repairs to a comprehensive homeowner’s insurance policy. If those steps don’t include flood insurance, however, you’re not fully protected and may be left to pay for extensive damage on your own. If you’ve asked yourself, do I need flood insurance, Muller Insurance urges you to learn more about this essential coverage and why it’s a sound investment in your home and future.
Flood Damage vs. Water Damage
Before we get into the details, we must first know what makes flood damage different from water damage. In this context, a flood specifically refers to water that enters the home from outside when drainage systems can’t keep up. In contrast, water damage refers to damage caused by burst pipes, appliance malfunctions, and other sources of flooding from inside the home.
Your homeowner’s insurance policy will cover water damage but does not include flood insurance. This is especially important because even a single inch of floodwater in your home can result in thousands of dollars in damages.
Are You at Risk?
It’s easy to think that a flood could never affect your property, especially if you’ve never seen flooding in your area. Yet floods are the most common natural disaster in the U.S., and if you live near a major river or along the coast, you’re at high risk for flooding. But this isn’t all you should be concerned with when assessing your chances. A number of other events can increase the likelihood of home flooding, including:
- Heavy rains
- Hurricanes
- Spring thaws
- Sea level rise
- And more…
It’s also important to note that if you have a federally backed mortgage and live in a high-risk area, you are required by law to have flood insurance coverage. Some lenders may also require flood insurance if they so choose, and for good reason. Should your home ever be flooded, this coverage can mean the difference between high out-of-pocket expenses and the proper protection of your assets.
Why Is Flood Damage So Serious?
Common building materials and methods are simply not designed for water exposure. Wood rots, concrete cracks, and electrical systems short out, putting the safety of everyone in your home at risk. At the same time, dark, moist places, like the inside of walls and within carpet fibers, make perfect breeding grounds for mold. Once formed, mold can cause additional structural and cosmetic damage, as well as create significant health risks, including respiratory conditions and even death.
With these concerns in mind, it’s easy to understand the importance of flood insurance to repair this damage, eliminate seeping water, and prevent health risks for you and your family.
Get the Flood Coverage You Need Today
If you’re not currently covered by flood insurance, contact Muller Insurance now. Most flood insurance policies require 30 full days to go into effect, which means there’s no time to delay. To learn more about our flood insurance and other policies, call 201-659-2403 to speak with an agent and request a free quote.
