A flood is defined as an overflow of inland or tidal waters, a rapid accumulation or runoff of surface water from any source, and a landslide due to excessive erosion due to flooding, landslides caused by accumulations of water. on the ground or underground. Any owner or renter should protect their property and purchase flood insurance.
Depending on your request, a flood policy can cover the home with the contents or just the contents. If you own a home, you must buy both. If you rent the apartment or a house, you can only buy personal property flood coverage. A flood policy covers the property in the policy description against direct losses from flooding.
Flood insurance is one of those additional insurance policies that no one wants to spend money on, especially if the property is not located in a flood zone. Unfortunately, many homeowners are left with unpaid homeowners insurance claims, only to discover that flooding is not covered by their homeowners policy.
Buying flood insurance gives you peace of mind just like any other insurance and it must be purchased in advance. It’s hard to imagine a flooded street in your neighborhood when it hasn’t flooded in twenty years. It’s hard to imagine a flood damaging your personal property during a drought.
Flooding is very common in areas prone to tropical rainfall and hurricanes and in areas where rivers absorb snowmelt in spring. Flash rains after drought cause flooding mainly because dry land takes longer to absorb the rain. Older subdivisions with clogged storm drains are more prone to flooding. New subdivisions may also have clogged water drains due to construction debris in the street. A new subdivision in the area will increase the possibility of flooding. A meadow or a forest absorbs water very well. If we build a town covered in cement with buildings and streets, the rainwater has nowhere to go and floods the streets.
We all think about buying this type of insurance when a tropical storm hits or when the local river is high near our house, but that’s not the time to buy it, and no insurance company will sell you a policy when a hurricane is coming. in the Gulf of Mexico or when evacuating. That’s why the flood policy goes into effect only 30 days after purchase. The insurance provides coverage for unforeseen events. Knowing that a big storm is coming that will cause losses and that is predictable.