A home is a significant investment and a valuable asset that you should protect and keep safe. One way to protect your home is to get insurance against different threats. Unfortunately, homeowners only consider getting homeowners insurance.
However, most home insurers don't offer flood damage in their policies, so you might need to supplement and get a flood insurance policy. While it may seem like you have been doing fine without flood insurance and floods don't seem like a threat to you, here are reasons to get it.
Floods Are Ranked the Most Common Natural Hazard
A recent report ranks floods as a common natural disaster in the United States. Floods happen when the water rises and overflows onto land. While floods cause swamps in forests, it isn't alarming, but it is a serious matter when flooding hits human homes.
Urban areas are prone to flooding since they are home to more pavements. Excess water soaks into the soil when the ground isn't paved, making the areas prone to flooding. Floods can cause massive damage to homes and render people homeless. So, getting flood insurance keeps you safe and helps cover losses due to flooding.
There Are Different Sources of Flooding
Most homeowners think flooding is only caused by heavy rains or hurricanes. However, there are numerous sources of flooding, some of which are unnatural. For example, poorly constructed urban drainage basins without ground where water can sink could fill up and flood low-lying areas.
During cold weather, snow and ice could melt and cause floods. A lack of vegetation around the household can cause flooding. Vegetation slows runoff water, reducing flooding. So, areas without vegetation are more prone to flooding.
Flooding Is More Prevalent Than Fires
Your homeowner's insurance covers fires. However, more homes are prone to flooding than fires. According to a report, a house with a 30-year mortgage is 27 times more likely to have a flood threat than a fire. Therefore, just because your home isn't near a water body or hasn't experienced flooding in the past doesn't guarantee your safety.
It is essential first to assess your home's flood risk. While it cannot be your priority risk, every homeowner needs to know. An inch of water level can result in damage that will cost thousands of dollars. So, before risking drowning your home and spending thousands in damages, assess your home, and get in touch with a flood insurance company to keep your home safe.
Although flood insurance isn't a mandatory requirement for your home, it keeps your home safe and protected. Flooding can happen to anyone and at any time, so, be on the safer side by getting flood insurance.
For more information, contact a home insurance agency in your area such as Southern Insurance Professionals.