Three Reasons to Get Flood Insurance

When you’re buying a home, one of the things that you must consider is whether to get insurance. If you live in an area that’s at risk of flooding, you’ll have to decide whether to get flood insurance.

At Foresee General Insurance Agency Inc., servicing Harrison, AR, we help homeowners and home buyers find flood insurance for their needs. Below are three reasons you may want flood insurance for your home. 

1. Standard Home Insurance Doesn’t Cover Floods

Home insurance covers a variety of perils, including fire, vandalism, lightning strikes, and wind damage. However, standard home insurance policies don’t cover damage from flood. If you don’t have flood insurance and your home is damaged by flood water, you’ll have to pay for your repairs out of pocket. 

2. Flood Recovery Is Expensive

Flood recovery can be extensive and expensive. When water seeps into a home, it has very little time to dry out before it can grow mold. In addition, flood water is toxic and can cause extensive damage even after dries. In other words, many things that are touched by floodwaters are ruined by them, and that means making repairs and replacements can be costly. 

3. Your Lender May require Flood Insurance

If you’re getting a mortgage for a home in a Special Flood Hazard Area, your lender will most likely require you to get flood insurance to protect your investment. This protects the bank and the buyer since it helps ensure that if the home is damaged in the flood, repairing it is more affordable. 

Do you think you need flood insurance? Contact Foresee General Insurance Agency Inc., servicing Harrison, AR, to get started.