Paul Dreher Director of Personal Insurance View Bio

Did you know flooding is America’s most common natural disaster?

Many people don’t realize how common and costly floods are, and thus many do not have flood insurance. This leaves a lot of renters, business owners, and homeowners vulnerable as just one inch of water can cause up to $25,000 in damage!

Review these common myths to learn why flood insurance is so important to protect the life you’ve built.

1. MYTH: You can’t buy flood insurance if you don’t live in a floodplain.
Flooding can happen anywhere, not just in high-risk areas. Anyone in a participating National Flood Insurance Program (NFIP) community can purchase flood insurance.

2. MYTH: You can’t buy flood insurance if you live in a high-risk flood area.
Together with The National Flood Insurance Program, the team at Lawley can work with you to ensure you are properly covered. It’s important to know that it takes 30 days for a policy to go into effect; don’t wait until storms are predicted or underway.

3. MYTH: Homeowners insurance includes flood insurance.
Most Homeowners insurance typically do NOT include flood insurance. To protect your home from flood damage, you typically need a separate flood insurance policy. Business owners and renters should also purchase flood insurance to protect their property from flooding.

4. MYTH: You can’t purchase flood insurance if your property has been flooded before.
You can! You are eligible to purchase flood insurance after your home, apartment, or business has flooded if your community participates in the NFIP.

5. MYTH: Federal disaster assistance will pay for flood damage.
Disaster assistance is available only after a Presidential disaster declaration. When available, it may not cover the costs of all damage. Disaster assistance often comes in the form of a U.S. Small Business Administration disaster loan, which must be repaid with interest. Insurance is your best means of recovery from flooding.

The team at Lawley Insurance to here to help you prepare for a flood and ensure proper coverage to protect you, your home, and your belongings.