An inch of floodwater in the basement or first floor of a home can cause tens of thousands of dollars in repairable damages, displacing families from their homes and communities. Without insurance, families bear the burden of these costs and grievances on their own.
Flood insurance mitigates this risk by taking on home flood costs, which are not covered under home insurance.
If you live in coastal Texas or the Flash Flood Alley of Central and Northern Texas, or if you are fearful of your home being flooded after the tragic flooding caused by Hurricane Harvey, it is time to consider flood insurance.
Flood insurance protects people’s property from built-up water that may submerge a home from the outside due to a natural disaster or appliance malfunction.
Insurance companies require annual or monthly payments based on your home’s location, size, and age. Older homes may be more at risk for severe flood damage and often cost more to insure.
Our insurance agency Insure Texas LLC offers policies from different local and national insurance companies for people of different financial situations and needs.
Policies are broken up into coverage and deductibles for three categories:
Most policies do not cover the cost of relocating families dealing with a flooded home. Some companies only protect personal good replacement or payments with an additional flood policy or add-on to your flood home repair policy. Additionally, not all policies cover flooding due to plumbing issues if the cause is natural wear and tear.
Flood insurance is not mandatory to buy or own a home in Texas unless you live in a Flood Risk area as defined and determined by the National Flood Insurance Program (NFIP). The NFIP works with the Federal Emergency Management Agency (FEMA) to give flood relief and rate local flood insurance options.
If your home has been repaired since September 2009, as defined by Chapter 2210 of the Texas Insurance Code and TWIA’s Plan of Operation, you are also required to have flood insurance.
A flooded home is dangerous to live in and can be fiscally and emotionally taxing.
If you want to discuss flood insurance options for your home, apartment or condo, with a knowledgeable agent in the Katy/Houston area contact Insure Texas LLC today.
