11 Common Myths About Flood Insurance yesensure final

11 Common Myths About Flood Insurance

There are many myths out there about flood insurance. After all, the general public does not want to think about this type of catastrophic event happening to them. However, it is important for people to have a clear understanding of what they need in order to be fully protected from anything that might happen with flooding. In this blog post I will discuss 11 common misconceptions and provide information on how you can learn more about flood insurance and protect your family or business!

1. You can’t buy flood insurance

Is that true? It sounds like a hard sell. You can’t buy flood insurance if you live in an area where floods are common, right? That’s the myth with which we’re dealing today and I am here to dispel it for all of us!

2. Disaster assistance and flood insurance are same

You may not realize this but disaster assistance is nothing like flood insurance. Unlike the latter, relief money doesn’t only cover your losses from natural catastrophes and fires; it also covers other financial difficulties you’re experiencing as a result of being out of work or confined to bed with an illness for long periods at a time.

3. Flood coverage you

Get the amount of flood coverage you can afford now. But really, get more than what you think is enough… it’s worth it in case your home gets flooded! Get some flood insurance to protect yourself and your family from any flooding mishaps that might happen around town or near where you live!

4. Renters can’t get flood insurance.

That’s not true! Renters can get flood insurance if they live in a high-risk area. In fact, renters may have to pay the same amount for their premiums as homeowners do because of this risk factor.

Renters are able to receive coverage from a number of different sources including FEMA and state programs that provide assistance with property losses due to these natural disasters like floods or earthquakes.

However, just because you don’t own your home does mean you’re going unprotected against something such as flooding when it comes time for repairs after an incident occurs; there is help available even for renters who want protection on what could be considered higher end lines items than liability only policies typically found at homeowner associations (HOA).

5. Not every flood zone

You might be thinking that the only way you can get a flood is if your home or business is in what’s called a “flood zone.” Think again. A lot of places are at risk for flooding, even those far away from any designated zones!

So, let’s go over the basics of flood insurance. It may surprise you that it is available to all those who live in a designated Flood Zone and are mandated by law to have coverage.

6. Can’t buy flood insurance immediately

If you’re in a flood zone, it’s probably best to start preparing for an impending disaster now. That way when the water starts rising and your home is flooded with sewage-filled water up to your knees, all of those preparations will help keep panic at bay!

7. Homeowners insurance policies cover flood insurance.

Myth: Flood insurance? Who pays for that?!

Mmm, let me get this straight. You’re saying homeowners policies cover flood insurance?? Well sorry to break it to ya hunny but I don’t know about the other companies, but y’alls policy doesn’t offer any coverage of water damage whatsoever! If you think your house is safe (and dry) because you have a home owners plan – well just hold on now girlie…you’ll be waiting forever before anyone starts paying up when them pipes burst and the whole place floods.

8. Flood insurance is available only for homeowners

False. Flood insurance is available only for homeowners, but it also covers low-income renters and business owners with property in high risk areas.

The flood insurance that we’re talking about here doesn’t just cover homes – it’s a little more broad than that!

9. High-risk flood zones need to insure

That’s an old myth! It turns out that everyone has a risk of flooding.

The National Flood Insurance Program provides coverage for any property with either the owner or renter as its primary resident, regardless of what zone it is in and protects more than 5 million people from disaster each year. This means you can also get protection against flood damage even if your area isn’t labeled high-risk on FEMA maps; most policies have at least some level of coverage up to $250 thousand dollars worth of replacement costs available per occurrence only once every five years (and this includes earthquakes).

10. NFIP is the ONLY option

Did you know that federal flood insurance can be purchased from a private insurer? Private insurers are actually able to sell the same coverage as offered by FEMA, only at a higher cost.

11. Wind-driven rain is considered flooding

It’s a misconception that wind-driven rain is considered flooding. The National Weather Service defines ‘flooding’ as “an inundation of water from the sky or other source, which lasts for more than 24 hours.” Flood warnings are issued when rainfall amounts will cause rivers and streams to overflow their banks if nothing changes in intensity.

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