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High WaterFlood insurance is a smart investment for everyone. In fact, you have rental property or a mortgage, you may even be required to maintain flood insurance.

That said, there are a lot of myths about flood insurance. Because of that, some people never even realize that they are in need of flood insurance until it is too late.

Here's a closer look at five myths about flood insurance. Getting the facts straight can help a homeowner establish just how important it is to be covered.
  1. I don't live in a flood plain, so why would I need flood insurance? The truth is, the flood plains and flood zones change all the time. Places that are not prone to flooding can still be hit by a natural disaster, heavy rainfall or a changing flood zone area.
  2. If I have flood insurance and my home gets flooded, will the flood insurance cover everything? The details depend on your policy's limits and how much coverage you own. Your independent insurance agent can assist you with more information.
  3. Will my homeowner's insurance cover floods? Unfortunately, most homeowners insurance policies do not cover floods caused by external sources. If you have a broken pipe within the home that causes flooding, this may be covered. Just be absolutely sure which policy covers what damage.
  4. Isn't all water damage the same? No it is not. If a tree falls through your roof and the rain comes in, this flooding could be covered under the homeowners insurance policy. However, if a rogue wave hits your home, this would be considered flood water damage and would need to be covered under flood insurance.
  5. I bought a house outside of the flood plain, so I do not have to worry. That is simply not true. The changing flood plains can eventually cover the area your home is in. It is best to check every few years to see if your home is still out of the flood plain. In addition, being outside the flood plain often lowers the cost of flood insurance.
Flood insurance is important for everyone that owns a home or structure of any kind. The truth is that no one knows what the future will bring in terms of a natural disaster or unexpected weather. You need to be covered, so that you do not find yourself in a financial burden.

Should you get coverage? Call All About Insurance at (817) 589-0006 for more information on Dallas flood insurance.
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