Why Flood Insurance is a Necessity in 2020

​With the damages that the past hurricanes have done to the country, many still remember it. While insurance can cover most of the losses, some homeowners realized that their insurance policy does not cover damage caused by flood waters. Though some people who live in a flood hazard area are required to purchase an independent flood policy, here are some reasons why flood insurance is essential. 

Living Outside the Flood Zone Doesn’t Mean the Property is Safe
Though the administration is doing its best to evaluate where the flooding will occur, the models can be outdated and may not replicate the risk for today’s flooding. Past floodings can determine the flood zones, but it can’t help predict future climates or conditions. Because of this, floods may occur outside of the flood zone, and it's hard to draw the line where the water will stop. 

If you are worried about your home’s susceptibility is to check the dates on the flood maps in your location. Older maps will not take account of the recent developments, and those changes can modify the water hazards getting close to your house. 

Flood Insurance is Affordable Outside of the Flood-prone Areas
It was established that you don’t need to be in a flood zone area to buy flood insurance. Most risk management advice homeowners to purchase flood insurance, whether it is a requirement or not.  If you are going to acquire a traditional house insurance policy, you can ask the firm to add a flood coverage on top of it at a much reasonable cost. 
 
Flood Damage Tends to be Disastrous
Floods are the most pricey and frequent natural disasters in the US, which causes billions of dollars every year, with an estimate of $8.2 billion in costs annually. While the flood is not that widespread, to recover from an inch of water inside your home will cost you at around $20,000. Without flood insurance, you will have to shoulder all of these expenses. 

Conclusion
With the increasing issue with climate change nowadays, you cannot tell when disaster will hit you. Having a backup plan, like having flood insurance, is critical. Not only will it help with the damages, but it will also help you to focus on other things knowing that you have a policy to help you recover. 

At Family Auto Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (313) 285-9042. You can also request a free quote by CLICKING HERE.