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Should I Have Flood Insurance? Why It’s Important to Have Flood Insurance

Did you know only about 15 percent of American homeowners have flood insurance? Yet 870 billion in flood damage costs occurred in the Americas between 1994 and 2015. These numbers prove how essential carrying flood insurance can be.

You might now be asking yourself, “should I carry flood insurance?” Continue reading to learn the reasons it’s important to carry flood insurance, regardless of your circumstances.

image - Should I Have Flood Insurance? Why It's Important to Have Flood Insurance
Should I Have Flood Insurance? Why It’s Important to Have Flood Insurance

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Homeowner’s Insurance Likely Won’t Save You

Many people have homeowner’s insurance. They think this will save them if a flood happens and destroys part of their home, property, or belongings. Unfortunately, this is an inaccurate assumption that could cost you big.

Most homeowner’s insurance doesn’t cover flood damage. Sometimes you can add flood damage to your policy for additional costs, but you typically need a separate policy.

Not sure if your homeowner’s insurance policy includes flood damage? Read over your plan. You’ll likely find a clause that tells you water damage isn’t covered or is only covered on a small scale that doesn’t include rising floodwaters.

At some point, every homeowner should get a Lawyer for flood insurance claim because there are instances that it will be denied, but can still be fixed.

Flooding Can Happen Anywhere, at Any Time

If you live in a high-risk flood zone, you’ve probably already experienced flooding to some degree. You know the importance of flood insurance and your mortgage company may even require it. But flooding doesn’t only happen in high-risk areas.

Flooding can happen anywhere, at any time. It isn’t only summer storms and melting snow that causes flooding. Flooding can also occur because of inadequate drainage systems, broken water mains, construction, and other lesser-known causes.

Renters Still Need It

If you don’t own your home, the thought of getting flood insurance may not have ever crossed your mind. It’s true your landlords likely carry flood insurance. But their policy only covers the property and home, not your belongings.

During a flood, water can rise into your home once the surrounding property has become waterlogged. Anything inside your home may be damaged. The only way to get reimbursed is to carry contents-only flood insurance.

Don’t Rely on Federal Disaster Assistance

Why should I have flood insurance when federal disaster assistance covers that sort of thing? Many homeowners have this thought and believe they’ll be covered if something happens. But you can’t rely on federal disaster assistance.


This funding is only available if a disaster has been declared in your area. If an intense hurricane or blizzard caused the flooding, you might be covered. But that coverage still isn’t guaranteed.

Fighting to receive this assistance can take a long time. During that time, flood insurance could have allowed you to start rebuilding sooner. Without flood insurance, you could be waiting weeks or months to receive any monies.

Should I Have Flood Insurance? Now You Know the Answer

Now you know the answer to “should I have flood insurance?” Without a doubt, the answer will always be a yes, regardless of your circumstances.

Do you have more questions about flood insurance?

Check out our other blog posts. You’ll find a wealth of information on related topics that allow you to dig deeper into the subject.

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