Why is Flood Insurance Important?
9/2/2021 (Permalink)
To control costs, many homeowners opt out of or do not purchase flood insurance, but this can be a crucial misstep. Flood damage is one of the leading causes of financial hardship among homeowners. Whether or not your home sustains flood damage during a storm depends on the size of the storm, its direction of travel, and where your home is positioned relative to other buildings in the neighborhood. If your property lies at the end of a street or a slightly lower elevation than the surrounding area, you may be at high risk of flood damage. However, in the event of a catastrophic storm, the entire town could be flooded at once. Flood damage can cost thousands to repair. Floods with safety hazards may incur extra costs, as well. Since Florida is prone to flooding we always recommend that homeowners opt for the extra coverage. A slight extra premium each month can save you from footing a substantial bill the next time a hurricane comes around. What is and is not covered by your insurance may vary depending on your provider and contract, so be sure to get in touch with an insurance representative to learn where your coverage may be lacking.
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