Flood insurance may not be what comes to mind first when you think of buying insurance policies, be it business insurance or life insurance. However, it may be more important than you think. Especially as a Texas resident, it is highly suggested that you buy flood insurance from a trusted Texas insurance agent. Here are five reasons why you should consider buying flood insurance:
1. Texas is an area prone to flooding
Did you know that floods are the most common natural disasters in the U.S.? On top of this, Texas is a state that is highly prone to them, with almost every major city within an area of high risk. Especially in Dallas along the banks of the Trinity River, the probability is quite high. Residents of the city need to make sure that they are protected from any damage that can be caused by floods by getting in touch with a reputed Dallas insurance agent.
2. Homeowner’s insurance doesn’t protect you from flood
You may think that your homeowner’s insurance will protect you in case of a flood, but think again. Technically, a homeowner’s insurance only safeguards you from water that 'falls from the sky'. In other words, in case of floods, you will have to pay for any damages from your own pocket. So living in a flood-prone area like Texas means that it would serve you well to buy flood insurance separately.
3. Chances are you won’t receive federal help
In case of a flood, the only way that you can receive federal help is if your area is declared as being prone to federal disasters by the government. Unfortunately, this doesn’t happen too often. This means that if your house is damaged by flood, then you most likely won’t receive federal help. If where you live is in fact declared a federal disaster region and you don’t have flood insurance, government assistance usually comes in the form of loans. Taking these into consideration, it’s best to invest in flood insurance through a Texas insurance agent.
4. Damages caused by a flood can be extremely catastrophic
According to statistics from FEMA, floods cause an average of $8.2 billion in damage every year. And as mentioned before, it is the number one natural disaster in the U.S. It’s a known fact that the damage caused by floods can be extremely catastrophic and extensive. Parts of your house may be severely stripped away, and often times families lose their homes entirely. Without flood insurance and a risk manager, you have no option but to pay for repairs on your own.
5. You will have peace of mind
You should consider flood insurance because of the peace of mind that comes with it. Natural disasters are unavoidable, and the impact they cause is out of our hands. However, when you have a Dallas insurance agent to help you get the best possible flood insurance, you have some relief knowing that you're covered no matter what happens.