There are many misconceptions about floods and flood insurance. You don’t need this type of coverage if you live near the coast, and not all rivers are equipped with levees. Here are several facts about flooding to consider.
Most People Don’t Have Flood Insurance
At the national level, only about 20% of U.S. homeowners have flood insurance. The process of insuring homes against flooding is complicated, and many insurers do not want to assume the risks. That is why many homeowner’s insurance companies do not include flooding, so more flood insurance policies are bought separately.
Another reality is that most people unknowingly live in high-risk flood zones. They don’t know this fact until after the damage occurs. Other people live in high-risk flood zones, such as by large rivers or beaches, but they are not required to be insured. Some think that they are falsely protected by levees or assume that major flooding occurs rarely, so insurance is a waste of money.
Weather Is Unpredictable
Many people believe in the 100-year flood phenomenon, which means that one massive flood will happen every 100 years. However, they claim that more of these floods are happening more frequently due to global warming. Also, areas that were relatively stable before are beginning to get hit by heavy rainfall and flooding.
Flood Damage Happens Over Time
Furthermore, some flood damages do not occur overnight. Some property damages are caused by weather-related problems that build up over time. Erosion occurs gradually when water washes away part of a property’s foundation every time it rains. After another seemingly harmless flood, the foundation falls apart, causing cracks to form in the walls and floors.
Most home insurance providers do not cover flood damage and may contain non-flooding exclusions. Getting a flood insurance policy is easy, but many people skip doing it, thinking that they won’t need it or it’s too expensive. It’s important that you learn more about the facts of flooding and the damages that could easily happen to your home. After the water damage occurs, contact our restoration company for immediate assistance.