Did you know that all homes are technically in a flood zone?
Some homes are more at risk than others. If your home is a high flood risk, your mortgage company may require that you carry separate insurance to cover flooding.
Flood insurance is a bit different than a typical home insurance policy. It does have a 30 day waiting period before coverage can start. (Unless your mortgage company is requiring proof of insurance for a closing.) There is also a maximum amount of coverage you can insurance for the home and contents. You can insure your structure for up to $250,000. You can insure your contents for up to $100,000.
Because flood insurance is a national program, rates are typically the same no matter what carrier you choose.
If you have additional questions, please contact your insurance agent. Don’t wait until it is too late!