What is Flood Insurance and Do I Need It?

Storms such as Hurricane Katrina, Hurricane Harvey, and Hurricane Imelda are happening with greater frequency and greater intensity every year.

The World Health Organization lists floods as the #1 natural disaster in the world.

The NOAA, the National Oceanic and Atmospheric Administration, predicts that the rainfall and intensity of hurricanes will increase significantly in the coming years.

Thousands have lost their homes or have had severe damage due to hurricanes, severe storms, and associated flooding. Many people have lost not only their homes but their life savings also in these tragedies because their insurance didn’t cover flood damage.

• Do you live in a flood zone?
• Will a hurricane hit your area?
• Do you need to add flood insurance to your homeowner’s policy, or is it a waste of money?

Read on to decide.

What is Flood Insurance?

Flood insurance is a type of coverage that protects your home and belongings in the event of flood damage. It can help pay to repair or rebuild your home when water causes significant destruction.

This insurance can even include a provision called Increased Cost of Compliance that provides up to an…