If you live in a flood-prone area, it’s important to have flood insurance. But many people don’t have it, and there are some myths about flood insurance that may be keeping them from getting it. This post will dispel those myths and help you understand why flood insurance is so important.

Myth #1: Flood Insurance Isn’t Necessary if Your Home Is Paid Off

Many people believe that they don’t need flood insurance if they have a mortgage because their home is no longer at risk of being taken away from them. Remember, flooding is one of the most common natural disasters, and it doesn’t discriminate based on credit rating or income. Flooding can affect anyone, regardless of how much they have in savings or debt.

Myth #2: You Don’t Need Flood Insurance Unless You Live In a High-risk Area

Every homeowner is at risk of flooding, whether they live in an area that’s officially designated as a high-risk zone or not. Every year, severe weather events make it to the national news, and if you happen to be in the path of these storms when they hit your area, you could very well find yourself flooded, even if it’s not common in your area.

Myth #3: Flood Damage Is Covered by Homeowner’s Insurance Policies

Most standard homeowners insurance policies do not cover flood damage, so it’s crucial to have a separate flood insurance policy.

Myth #4: Flood Insurance Is Too Expensive

Insurance is always about risk management, and flood insurance can be affordable if you research. If you’re not sure how much flood insurance will cost for your specific area, call up multiple companies for quotes before purchasing your policy to find the best value.

Myth #5: Flood Insurance Isn’t Worth the Cost

This is one of the most common myths about flood insurance, but it couldn’t be further from the truth. If you happen to get flooded, you’ll be thankful you have flood insurance. And if your home is destroyed, the cost of replacing it – even in a high-risk zone – could easily be more than your flood policy will cost you.

It’s important to remember that almost anyone can get flooded, regardless of income, credit rating, or whether their home is paid off or not. Flooding occurs frequently enough that you could lose your home at any time. Richard Zeises Agency in Jenkintown, PA offers flood insurance and can help you figure out how much it will cost to protect your home. Call us today for a free quote.