Why do you need flood insurance?

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Flood is defined as the overflow of inland or tidal water, the rapid accumulation or runoff of surface water from any source, and the subsidence of soil due to the accumulation of ground or underground water, the collapse of land due to excessive erosion due to flooding Has gone. Any homeowner or renter should protect their property and purchase flood insurance.

Depending on your request, the flood policy may cover the dwelling with contents or only contents. If you have a home, you should buy both. If you rent an apartment or house, you can only purchase personal property flood coverage. A flood policy covers the property in the policy description against direct damage caused by or from a flood.

Flood insurance is one of those additional insurance policies that no one wants to waste money on, especially if the property is not located in a flood zone. Unfortunately, many homeowners are left with unpaid claims by their homeowner’s insurance, only to discover that flooding is not covered under their homeowner’s policy.

Buying flood insurance gives you peace of mind like any other insurance and it has to be bought ahead of time. It is hard to imagine a flood in your neighborhood when there hasn’t been a flood in the last twenty years. It is hard to imagine the damage to your personal property from flooding in a drought situation.

Flooding is very common in areas where tropical rains and storms are likely and in areas where rivers absorb snow that melts during the spring. Sudden rains after a drought cause floods because dry land takes longer to absorb the rain. Older subdivisions with storm drain closures are more prone to flooding. New subdivisions can also block water drainage due to construction debris in the street. With the formation of a new subdivision in the area, the possibility of flood will increase. A meadow or forest absorbs water very well. If we build a city with cement covered buildings and roads, the rain water has nowhere to go and the roads get flooded.

We all think about buying this type of insurance when a tropical storm is coming down or when the local river near our house is in spate, but this is not the time to buy it, and no insurance company will cover you when a hurricane hits. The policy will not sell in the Gulf of Mexico or when you are making an evacuation. That is why the flood policy becomes effective only after 30 days of purchase. Insurance provides coverage for unforeseen events. Knowing that a major storm is coming that will cause damage is predictable.

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