If you’ve ever considered purchasing flood insurance, you know that a policy won’t take effect until thirty days after you enroll. This is designed to encourage people to obtain coverage well in advance of the seasons when inclement weather is most likely, and is also a means of preventing insurance fraud. So, if you want to get a flood insurance policy for your home, the short answer is well in advance of the rainy or hurricane season in your area. As for why you should have this insurance, there are many reasons to consider.
1) Flood insurance applies no matter where you live.
Because you live inland and in an area that is not susceptible to hurricanes, you may be relatively safe from flooding. In truth, all houses carry the same risk, regardless of whether it is located on the coast or on a plain. Flash floods are aptly named because they can strike without warning, and a particularly active flood with waters as high as 10-20 can easily wash away a car. Imagine what those powerful waters can do to your home!
Given the recent activity in Tennessee, Missouri, and other parts of the country, you know that flooding does not discriminate. A solid policy will prove valuable and essential in the event of a flood emergency.
2) Flood insurance is more affordable than the alternative.
Consider this: You may only pay a few hundred dollars a year for flood insurance depending on your home, location, and risk. When you realize that a federal assistance loan taken out after a natural disaster could cost you thousands of dollars and take several years to pay off, don’t you think it’s cheaper to have the right insurance policy on hand?
3) Some flood insurance policies help you recover faster.
Unlike other types of insurance, some flood policies allow you to receive partial payment after the fact, giving you an advantage in terms of recovering your property. If you have had to deal with certain insurance companies before, you may have waited weeks and even months to get compensation. Here, you can plan to fix things while you wait for the rest of your payment.
4) Having the policy gives you peace of mind.
If you already have policies against theft, fire and other natural disasters, why not have one that covers you in case of rain damage and flooding? Even an inch of heavy rain is capable of causing structural damage to your home, so it’s best to cover all your bases.
Consider signing up for flood insurance now through a reputable company. The sooner you have the policy in hand, the more secure you will feel.