Flood insurance is often misunderstood, and many homeowners don't realize the risks they face until it's too late. Here’s the truth about getting your Tulsa Oklahoma & Missouri and Texas flood insurance:
- Homeowners Insurance Doesn't Cover Floods
- Many people assume their standard homeowners insurance covers flood damage—it doesn’t. You need a separate flood insurance policy to be protected.
- Everyone Is in a Flood Zone
- Even if you don’t live in a high-risk area, flooding can happen anywhere. Over 25% of flood insurance claims come from low- to moderate-risk areas.
- Government vs. Private Flood Insurance
- The National Flood Insurance Program (NFIP), managed by FEMA, offers policies but has limits (e.g., coverage caps and long waiting periods).
- Private flood insurers may offer more flexible options, higher coverage limits, and sometimes lower costs.
- Federal Disaster Aid Isn't Guaranteed
- Many homeowners think they can rely on federal disaster assistance, but that only comes if the government declares a disaster—and it’s often a low-interest loan, not free money.
- Costs Vary Based on Risk
- Flood insurance rates depend on factors like your home’s elevation, flood zone, and history of flooding.
If you live in an area prone to flooding—or even if you don’t—it’s worth considering flood insurance before a disaster strikes. Contact All American Insurance to asses your risk and provide with a flood insurance quote.