Do I need flood insurance if my house isn’t in a flood zone?

Lately, it seems that the media outlets are full of stories about people who have lost everything in a flood.  It’s particularly heartbreaking to discover that many of these people do not have flood insurance.  Without it, they have to replace everything that was lost or damaged out of their own pocket.

In nearly 25% of residential floods, homeowners were told that they did not need to purchase flood insurance.  Only homes that are located inside of areas deemed prone to flooding are required by federal law to purchase flood insurance.  It is possible for homes outside of these areas to flood, however.

Unusually high amounts of rain, clogged drainage systems, and poorly maintained levies and dams can all result in homes and businesses that may be nowhere near a major body of water and/or that have never flooded before.  Because the flooding in these cases is tied to an excessive amount of rainfall or improper drainage, it’s nearly impossible to predict which homes will flood until after a storm starts.

Because homeowner policies do not cover the damage that occurs due to a flood, this means that homeowners in these situations are on the hook to pay for everything that is lost of damaged.  In some cases, this can cost thousands of dollars, forcing homeowners to abandon their properties and declare bankruptcy.

If you live in the Benicia, CA area and you’re thinking about buying flood insurance, call the insurance agents at Companion Insurance Services.  They’ll be able to help you find a flood insurance policy that will give you the protection you need at a price that fits into your budget.