FEMA is here to help. It is no secret that water damage is one of the major concerns for many homeowners in the US. This is because flooding can be both an emotionally and financially devastating event. Most residents in the country have to take out loans or pay out of pocket in order to repair and replace any damaged items if they don’t have flood insurance.
As severe weather patterns often impact homeowners throughout the country, many individuals are worried about home insurance claims because of weather-related water damage, such as floods. The best step that you can take in order to protect your family and home is to buy flood insurance from a reliable and reputable provider.
Through the National Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP), the US government provides flood insurance in many areas deemed prone to floods and water damage. However, you can also purchase flood insurance privately to keep your valuables and family safe.
Note that homeowners’ flood insurance is an insurance policy intended to cover the damages to your home that is caused by a flood. In many cases, basic home insurance policies will not cover flood damage. And this is why flood insurance in the US is usually necessary.
Homeowners flood insurance usually covers everything from a minor leak to major floods, depending on the insurance policy you buy.
Besides providing possession and building coverage, private flood insurance policies typically cover many other flood-related expenses, such as the costs of hotel stay and food while your home is being repaired. In most cases, private flood insurance policies can cover anything your national flood insurance does not cover.
With a private flood insurance policy, your coverage is continuous. Your home or business premises will be protected at all times as long as you pay the premium on time.
It is worth noting that only one inch of water has the potential to cause over $25,000 worth of damage to a home. And did you know that more than 20% of flood claims in the US come from homes outside of listed flood zones? These statistics from FEMA are a sobering thought. Keep in mind that many homeowners mistakenly assume their insurance policy will cover floods, which isn’t usually the case. To avoid any confusion, you should discuss your options with a dependable and reliable insurance firm.
Some homeowners do not buy flood insurance as they think it is a complicated process. Others tend to fall for rumors and myths. Actually, this coverage is straight-forward and affordable. And that is not all; it may save you thousands of dollars in property repair.
You can qualify for an assistance grant from FEMA. Note that the cost of doing renovation and repairs to flood-proof your house might seem more expensive than your flood insurance cost. However, there are cases where people may be eligible for financial assistance from FEMA to make these home improvements. You can consider the Pre-Disaster Mitigation Program (PDM) in FEMA’s Hazard Mitigation Assistance Programs.