As residents of the Harrison, AR area, you know that having the right insurance policies in place is critical to protect your home. Unfortunately, the agents at Foresee General Insurance Agency, Inc., know all too well that homeowners can end up without proper flood insurance due to popular myths. Below we have put tother a list of the most common myths homeowners need to avoid when it comes to flood insurance.
My Homeowner’s insurance policy provides coverage for floods.
By far, the myth that a homeowner’s insurance policy will provide coverage for flooding is the costliest myth out there to homeowners. Flood coverage is a separate policy that homeowners must purchase. Too many homeowners make the mistake of assuming they have coverage only to find out they have no coverage after a devastating flood.
I do not live in a flood zone, so I do not need flood insurance.
Another costly myth is believing that your home is not located in a flood zone, so you do not need flood insurance. Over the years, floods in areas not located in flood zones have seen an increasing amount of floods that have devastated communities. If if you are not in a flood zone, you should still consider a flood policy.
I will wait until flooding is likely, and I will purchase a last-minute policy.
Unfortunately, waiting until the last minute to buy flood insurance is not a viable option. The majority of policies have a 30 day waiting period before coverage is effective. If you have concerns about flooding, do not wait to act.
The federal government will pay for the damage.
FEMA may offer funds in specific cases, but it is not guaranteed, and it can be a complicated process. If you are concerned about flooding, do not rely on the government for protection.
If you would like to learn more about flood insurance, reach out to Foresee General Insurance Agency, Inc., and speak with us today. We proudly Harrison, AR serve the area.