Changing homeowners insurance might be complicated, but when you live in a flood risk area, it may be time to review your policy. Though flood damage can be as simple as a backed up sewer, most flood damages occur in high flood risk areas, where flood damage claims average $27,000. On January 25th, the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) issued final flood insurance rate maps, which provide flood risk information for insurance purposes.
Unfortunately, not every homeowners insurance plan covers flood damage adequately, so considering insurance policy changes, or even changing homeowners insurance to protect yourself from floods is a smart investment. When changing homeowners insurance, it’s important to get a number of quotes to see which policy will offer you the best coverage. It’s also imperative that by changing homeowners insurance, you get the right coverage for your area’s flood risk data.
You can visit www.floodsmart.gov for information about flood facts and estimated insurance rates that will help you make an informed decision when changing homeowners insurance. Keep in mind, however, that your area’s flood risk data is not the only aspect that determines your coverage and premium.
One of the best sources of trustworthy information about changing homeowners insurance is AgentInsure. You can simply enter your information, and you’ll immediately be in touch with a licensed agent in your area who can advise you about changing homeowners insurance so you have coverage that fully protects you from flood damage.
My House is Paid Off - Do I still need Homeowners Insurance?
As a homeowner, you probably had to initially get your homeowners insurance policy as a requirement when you got your mortgage. This is because the lender had a lien on the home, meaning that the l...
Read More →
Understanding More About Home Insurance Policy Endorsements
A home insurance policy is designed to offer you insurance coverage for your home's structure and your personal property. It is also designed to protect you against any personal liability when some...
Read More →
What do I Need to do if my Home Insurance Claim was Denied?
When you file a homeowners insurance claim, it is possible that the insurer will deny the claim for various reasons. Before you assume that your policy does not cover the damage due to the denial, ...
Read More →