Why Flood Insurance is Your Home's Best Friend

Let's clear up a common misconception: flood insurance isn't just for those living on the coast or next to a river. Nope, your suburban home might need it too.

First things first, what exactly is flood insurance? In the simplest terms, it’s a type of property insurance that covers your home and belongings in the event of water damage from flooding. You might be thinking, “Wait, doesn’t my homeowner's insurance already cover that?” Well, not quite. Standard homeowner’s policies typically exclude flood damage, which is why having a separate flood insurance policy is so important if you live in an area at risk.

So, how does flood insurance work? The process kicks off with a flood map, which is a fancy term for a detailed map that shows the flood risk of your area. These maps are created by FEMA, and they determine whether you’re in a high-risk, moderate-risk, or low-risk zone. If you’re in a high-risk area, your mortgage lender will likely require you to have flood insurance. But even if you’re in a lower-risk area, it’s something worth considering because, let's face it, Mother Nature can be pretty unpredictable.

Most homeowners don’t know that flood insurance takes 30 days before it’s active. It’s not regular homeowners or car insurance, which can be active the same day. Once you’ve got your policy, if a flood does occur, you’ll file a claim with your insurer just like you would with any other type of insurance. They’ll send someone out to assess the damage, and then you’ll get reimbursed for the covered losses. Pro tip: Document everything! Photos, videos, and receipts are your best friends when it comes to proving the extent of the damage.

The next time you’re thinking about what coverage your home needs, don’t forget about flood insurance. Because when it comes to protecting your home, it’s always better to be safe than soggy!