When the word “flood” enters into the conversation, some people conjure up imagery of almost biblical proportions, with great tides of water engulfing entire neighborhoods, and people stranded on their roof, waiting for lifeboats or helicopters to carry them to safety.
In truth, most floods, while not as dramatic in appearance as cinematic versions, still cause untold amounts of damage to areas, and specifically the residences within them. If you don’t have flood insurance, you may want to rethink your stance.
Important But Not Mandatory
While you cannot own or rent out a property without some kind of insurance on the residence, you can easily do so without having to get specific flood insurance coverage. Almost invariably, flood insurance is a strictly optional form of coverage, and most insurance companies aren’t going to push for it too aggressively. To many people, it’s just an extra monthly premium that could be put to more productive use elsewhere in a business budget.
But a flood can cause immense damage to any property, even if it is, technically, “just a lot of water.” In some cases, it can damage your electrical system, creating a dangerous situation for everyone in the house. Flooding can also, unfortunately, overload sewer systems, causing toilets and drains to spill over with sewer water.
Flooding can even cause health hazards. Black mold, a dangerous type of fungus, can infest flooded areas, unleashing spores that present a serious risk to residents, especially those vulnerable to lung infections.
Location Doesn’t Always Equal Safety
Some people think that floods only occur in certain parts of the country and that if you don’t live in New Orleans, for example, then flood insurance coverage is a waste of money. However, even if you don’t live in a state like Louisiana or Florida, which are noted for flooding, that doesn’t mean you’re free from risk. Approximately 25% of floods that occur in America do so in areas that aren’t considered high risk.
Flooding is unpredictable. A freak rainstorm that persists for too long can cause flooding in just about any area. This means that for those people that forgo flood insurance, that little bit extra they found too inconvenient to pay on a monthly basis can cost them repairs to an entire home that they are solely responsible for.
Get Your Protection
If you want the peace of mind that comes from knowing that even a flood can’t hurt you financially, think about getting flood insurance coverage. If you are renting your property, advise your tenants that flood insurance, while protecting the building, does not extend to protecting the belongings of the tenants within that property. Even tenants, however, have insurance protection that they can seek out for themselves if they want that added security as well.
Flooding is, in some parts of the USA, very common, but less so in others. Don’t take the chance of being caught off guard with flood damage that you’ll have to pay for out of your own pocket. Get flood insurance coverage and get your properties all the protection they deserve. Contact us today and we’d be happy to help!
