Flood insurance can be a great thing when you are dealing with the aftermath of a lot of water, but many Americans choose not to obtain flood insurance because they have heard something that makes them believe they don’t need it. At Superior Flood, we know that there are a lot of myths out there about buying flood insurance from a flood insurance company. But we want to help expel some of the myths for you so that you are making an informed decision.
Myth: You homeowners insurance covers flooding.
Fact:This is a common misnomer. Most homeowners insurances policies do not cover your home if you are affected by a flood. If you choose to, and your insurance company offers it in their NFIP policy, you can purchase a personal property coverage to your plan. This will cost you more than a regular homeowners insurance so make sure that you do your research.
Myth: Only people who live in a floodplain need flood insurance.
Fact: Research shows that nearly 25 percent of NFIP claims come from people who do not live in floodplains. And as we learned from this blog, that number could go up in the next few years because of the inclement weather that we have been experiencing all over the nation. It is better to be prepared for a flood than not be and have to pay thousands of dollars repairing and replacing everything.
Myth: Basements are not covered in flood insurance
Fact: The truth is, basements are usually always covered in NFIP policies. A basement is described as an area of space that is below ground. Anything structural that is damaged due to a flood can be covered. However, personal belongings like furniture and decor and basement improvements are not covered.
After reading these myths, we hope that you have come to the conclusion that it is a great idea to invest in a flood insurance policy from Superior Flood Inc. When choosing your flood insurance plan you want to go with a flood insurance company that you can depend on. Call us today.