Who should have flood insurance?

Not everyone in the country needs flood insurance. But, many more people would benefit from it than actually have it. Anyone who lives near a body of water even a creek or stream should consider the likelihood that flooding may become a reality. Just one inch of water in for home can cause more than $20.000 of damage. That isn’t a lot of water, but it is a lot of money. In Houston, TX take your flood insurance questions and concerns to Memorial Insurance Agency. We take pride in providing excellence in insurance to every customer, every day. 

In the past few years, many communities have found themselves the victims of a hundred-year flood. These are floods that have a 1% chance of hitting any community in any particular year. When many communities are having them happen, something unusual is going on, and it demands a rethink of flooding and flood insurance. 

In order to be eligible to purchase flood insurance from the NFIP you need to live in a community that takes part in their planning. This is not the only way to purchase flood insurance, but it is the most common. It is sold in two parts, each can be purchased separately. One part covers the physical building and all the major systems and the other is for content. 

In determining whether you should have flood insurance, you need to take a good look at all the surrounding communities. Have any of them had extensive flooding? If the water that affected them were to rise even higher would it pose a danger to you? What stands between you and extensive water damage? If the answer is nothing, you may want to rethink whether you need flood insurance. 

If you want more information about flood insurance in Houston, TX, contact Memorial Insurance Agency.