It’s no secret that flood insurance is a vital part of protecting your home and property from the devastating effects of a natural disaster. But despite its importance, there are many myths and misconceptions about flood insurance that can lead people to make uninformed decisions about whether or not to purchase coverage. Travers Insurance in Webster Groves, MO seeks to debunk five of the most common myths about flood insurance.
5 Common Flood Insurance Myths
Myth #1: Flood Insurance Is Expensive
One of the most common myths about flood insurance is that it is too expensive to be worth purchasing. The truth is flood insurance can save you thousands of dollars in the event of a flood. The average cost of flood insurance per year is a small price to pay for the peace of mind that comes with knowing you and your property are protected.
Myth #2: My Home Is Not in A Flood Zone, So I Don’t Need Flood Insurance
Another common myth about flood insurance is that it is only necessary if your home is located in a designated flood zone. The truth is that floods can occur anywhere, and even homes outside of flood zones are at risk.
Myth #3: My Homeowners Insurance Covers Flooding
Many people believe that their homeowner’s insurance will cover damages caused by a flood. However, most standard homeowners policies exclude flood damage. That means if a flood damages your home, you will likely have to pay out of pocket to repair the damages.
Myth #4: The Government Will Help Me If A Flood damages my Home
While the government does provide some financial assistance to homeowners who suffer flood damage, this assistance is typically only available for major disasters and is often not enough to cover the full cost of repairs.
Myth #5: I Don’t Need to Worry About Flooding If I Live in An Area That Has Never Flooded Before
Just because your area has never experienced a flood does not mean it is not at risk. Flooding can occur anywhere, and even areas that have never flooded before can be at risk for future floods.
Need Flood Insurance in Webster Groves, MO?
Now that you know the truth about flood insurance, it’s important to take action and get covered. Travers Insurance is here to help you find the best policy for your needs and budget. Contact us today to get started!