In most places, flood insurance is not mandatory. If you do not live in a FEMA-designated flood hazard area, then odds are you have the choice between whether or not you want to invest in insurance. If you’re on the fence about it or if you simply don’t think it’s necessary, pay attention to these reasons to add flood insurance to your policy.
Properties Are at Risk Outside of Flood Zones
Some people believe that if they live outside of the flood zone, then they don’t have to worry. It’s true that those who live in flood zones have to be worried more often. There are higher chances of flooding and it’s nearly a certainty. However, that doesn’t mean that your home cannot flood. When you live in Florida, floods are a natural possibility. This is why you should never opt out of flood insurance Orlando FL residents rely on.
Flood Damage Can Be Catastrophic
Floods cost a lot of money when it comes to clean up and repair. One inch of water can cost you around 27,000 dollars in damage. This is a hefty amount of money that most homeowners don’t have lying around. To make matters worse, most homeowner’s policies will not cover flooding. If you live in an area where there is any potential for flooding, you don’t want to have to spend that money on home repairs. Most don’t have it and hence can’t repair their homes after a flood. You could lose everything and it may be difficult to pick up the pieces when it’s finished.
If you live in an area where flood insurance isn’t mandatory, you may want to start thinking about whether you should purchase it. The benefits far outweigh any disadvantages. While it does cost money, you will spend significantly less on insurance than you would on repairs.