Homeowners Insurance May Not Cover Floods
Repeat. Homeowners Insurance Policies do not typically cover flood insurance from storms. The misconception that homeowners would be protected by their regular home insurance policies has led to financial tragedy for many families. Meanwhile, according to floodsmart.gov, a flood insurance policy averages about $500 a year.
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Where Does Flood Insurance Come From?
Congress created the national flood insurance program to provide home owners, business owners, and renters, with affordable flood insurance. It also does more, because it forces participating communities to take steps to lessen the effects of severe storms.
People in all 50 states are vulnerable to floods, and not just people who live near the ocean. Melting snow, overflowing rivers, and hard rains also cause floods.
You can get quotes from local insurance agents though. Find and compare the best homeowners insurance quotes today!
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