Florida Insurance Blog

Top Reasons For Buying Flood Insurance

Do you think that you do not need flood insurance? You may not live close to water or have a great home insurance policy. However, the truth is that every property is at risk of flooding, even if it is not located in a flood-prone area. If you still think it is not necessary, here is a list of reasons why getting flood insurance is a smart decision:

Reasons To Purchase Flood Insurance

Every homeowner should carry this type of insurance, and here is why:

  • Floods happen everywhere. According to the statistics, almost 20% of all flood insurance claims are made by homeowners who do not live in flood-prone zones. That means that regardless of your location, there is no guarantee that your property will not be damaged by flood. 
  • Home insurance does not cover flooding. Many homeowners mistakenly believe that flood coverage is included in a standard home insurance policy. However, it is not true. Therefore, even if you have a really good home insurance policy, damages caused by flooding will not be covered by your insurance, and you will have to pay for them out of your pocket. 
  • Flood losses are high. Most people do not even know, but even a few inches of water can lead to very costly losses. For example, if your home is 2,000 square feet, two inches of water will cost you about $27,000. If you do not have flood insurance, you will have to cover this damage yourself. 

Morgan Insurance Services Serving Tampa, FL – Let Us Protect Your Home

If you live in Tampa, FL or any other surrounding area, having flood insurance is a must. Floods are very common in Florida. If you have questions about this type of insurance, or you need help in getting a policy that will fit your needs, Morgan Insurance Services is ready to assist you. Feel free to visit our website for more information or give us a call.