Flood Insurance

Flood insurance is not a policy many of us enjoy buying, but you will be grateful when you need it. Flood water damage can be destructive to the extent of rendering you homeless. L&S Agency Inc. recommends buying flood insurance even if you don't live in a high-risk area. If it's your first time purchasing flood insurance, it's critical to ask several questions about the policy before settling to buy. In this article, we will answer some of the common questions.

What does flood insurance cover?

Flood insurance is a type of property insurance that protects your home and its contents. Unlike home insurance, a flood policy does not cover property damage liability or injuries. It covers your floor, walls, and the contents of your home, such as furniture, electronics, clothing, and other appliances. Remember, home insurance does not cover damage caused by floods.

Is Flood insurance mandatory

No. Flood insurance is not mandatory in almost all states, but there are specific situations where you need to have flood insurance. For instance, if you bought your home on a mortgage, your lender may require you to have flood insurance if the house is located in a high-risk flood area. While this policy is not mandatory, it's your responsibility to protect your investment. After all, it only takes an inch or a few inches of water to destroy property worth hundreds of dollars.

What happens if there's a flood and I don't have flood insurance?

The best decision you can make to protect your property is to buy flood insurance as early as possible. Flood insurance generally comes with a 30-day waiting period. If flooding occurred before the 30 days are over, you might not be eligible to file any claim.

Looking to buy flood insurance? You can trust experts at L & S Agency Inc. to provide you with a policy that fits your needs. Call us today.