There are many types of insurance packages that are designed to protect a person and their financial status. While more and more people are becoming aware of the importance of having insurance, there are some types of insurance that people opt out of—and end up regretting, especially in the aftermath of a calamity.
One of these insurance types that people forego is flood insurance. There are many reasons why people may want to opt-out of this, mainly as it may initially be seen as an unnecessary expense! However, a significant portion of the reason why people brush this type of insurance under the rug can be attributed to the myths that surround flood insurance.
If you are torn between getting flood insurance or not, it pays to be fully informed about the decision before you make it. Here are a few of the myths and the truths behind them to help you get the facts straight as you make your decision.
Myth #1: You Don’t Need It Because You Aren’t In A Flood Zone
The truth is that no matter where you are, you will be at some risk of being a victim of a flood. While some areas are more prone to this than others, it is untrue to say that because you are not in a flood zone, you won’t ever get flooded!
Myth #2: Flood Insurance Is Not A Mandatory Requirement, So I Don’t Need It
When it comes to natural disasters, floods are one of the most common. Even just an inch of floodwater may leave a homeowner with serious damages that will cost up to $25,000 in repairs.
Myth #3: My Standard Homeowners Insurance Will Take Care Of Flood Damage
Many people think that their homeowner’s insurance will be enough to take care of any damage that is caused by a flood. However, this is untrue. While homeowners insurance is extensive on its own, there are many instances where it lacks, especially in terms of the damage that is caused by floods.
Myth #4: Flood Insurance Is Too Expensive
There are many insurance providers that offer competitive insurance plans when it comes to flood insurance. Keep in mind that paying for this type of insurance will be a much cheaper option rather than paying for repairs to your home after the flood has come and gone.
Myth #5: I Am Only Renting, So I Don’t Need to Get Flood Insurance
If you do not own the home you are staying at now, your landlord or building owner may already have flood insurance for the structure. However, keep in mind that this insurance will only cover the building, not the contents of the apartment. That means your personal belongings aren’t covered by this!
Taking out flood insurance for your personal things is a good idea for your peace of mind.
Conclusion
While it is true that floods may happen and will hopefully not cause any damage to your home and the perimeter of your property, it still pays to have this type of insurance at your disposal. It is impossible to predict when accidents and calamities will strike. This is why it is best to ensure that your property is insured, in case anything untoward does happen.
If you have any questions about flood insurance or any other type of coverage, contact Quesurance today! Our insurance agency has served Hopatcong and the surrounding New
Jersey communities by protecting the people we work with just like we protect our own
family members. Get a flood insurance quote from us today!
