Flood Insurance is a must-have policy. If you live in a high-risk area, you will be required by law to purchase Flood Insurance, as damages resulting from flood are not covered by your Homeowner’s Insurance policy. Even if you do not live in a high-risk area, you should still purchase Flood Insurance, because even a few inches of water can cause severe damage to your home. Restoring your property to its original state can cost you thousands of dollars, as even one foot of water causes damage of at least $39,000 on average.

Floods can happen in any area. They can happen as a result of clogged storm drains, snow melts, dam or levee failures, collapsed swimming pools, or broken water mains. The cost of Flood Insurance is the same across all insurance carriers, because it is supported by a governmental initiative, National Flood Insurance Program (NFIP). There are two policies available: standard policy for communities participating in NFIP and preferred risk policy for low-to-moderate risk communities. 

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