You know the old saying, "When it rains, it pours?" Well, with rain comes flooding, and if you don't have flood insurance, you could wind up in a big pool of trouble—literally. The truth is that even if you don't think you live in a flood zone, you could be at risk. Just because you live in an area that doesn't get hurricanes or other severe weather doesn't mean that it is free from floods. In fact, sometimes all it takes is a new building development in your neighborhood to divert enough rain to put your house under water. And if that happens, would your belongings be protected?
The bottom line is that floods can happen anytime, anywhere. We all live in a flood zone - it just depends how severe of a flood zone the area in which you live is. In fact, more than 20% of flood claims come from people in areas that are not considered at high risk.
So, how do you know if you need flood insurance? First of all, it is important to keep in mind that most homeowner's insurance does not cover flooding. The National Flood Insurance Program, which is run by the Federal Emergency Management Agency, determines which areas are most likely to flood and creates maps accordingly to show the risks and outline the premiums and coverage for those areas. To find out your risk, talk to your local Allstate agent by calling 1-800-ALLSTATE (1-800-255-7828), or find an agent near you.
Once you determine your flood risk, you can work with your insurance agent to determine the type of coverage you need to protect yourself and your property. However, keep in mind that it is not just severe rain storms that can result in a flood - backed up sewers and broken sump pumps can all put you under water. So, even if your area is not at high risk, you may want to consider some sort of flood insurance.
And flood insurance is not just important for homeowners either. Renters should make sure that their belongings are protected, too. After all, you may not care what happens to your building, but you will definitely care if your first-floor apartment floods and damages your belongings. Renter's insurance can help protect you in the event that the unthinkable happens, but it does not cover flooding. Talk to your insurance agent to learn more about flood insurance coverage. Also, to help determine the value of the belongings in your apartment, be sure to check out our How Much Stuff Do You Have app.
The bottom line is that when it comes to flood insurance, it's better to be safe than sorry. Spending the money for flood insurance now is better than trying to figure out how you're going to replace all those valuables because your basement is three feet under water.
To find out what type of flood insurance coverage you need, call us at 1-800-ALLSTATE (1-800-255-7828), or talk to an Allstate Agent today. Are you in Good Hands?.
Published: August 2011