Flood insurance is a necessary (but often misunderstood) type of protection for homeowners who live in a flood-prone area. Read on to learn five important facts that every homeowner should know before they purchase flood insurance.
- Homeowners insurance doesn’t cover flooding. Many homeowners assume that their homeowners insurance policy will protect them if there’s a flood. Unfortunately, most insurance policies don’t include coverage for floods. You’ll need a separate flood insurance policy to fully protect yourself.
- Your mortgage company might require you to buy flood insurance. Unlike car insurance, you aren’t legally required to have any type of flood insurance if you own a home in a high flood risk area. However, your mortgage company may require that you buy some form of flood insurance as a condition of your loan.
- Flood insurance is easy to find. Most companies that provide homeowners insurance also offer add-on protections for flood insurance. Some companies even allow you to combine both deductibles into a single payment.
- Flood insurance won’t protect your car or truck. If you want to protect your car or truck from flood damage, you should purchase a comprehensive coverage policy from your car insurance provider.
- Flood insurance isn’t the only way to protect your home from water damage. Flood insurance is important—but it’s not the only way to protect your home. Basement waterproofing in Montgomery County from companies like Rightway Waterproofing can help you protect your investment by minimizing damage after a flood.
Is your home in a flood-prone area? If you experience a flood, make your first call to Rightway Waterproofing. Rightway Waterproofing is proud to provide the NJ mold removal and emergency basement services that homeowners in the Garden State need to protect themselves and their families. Give us a call today to learn more or get started!
