Although many people believe only those who live in a flood plain need to purchase flood insurance, these natural events can occur in any part of the country and can cause thousands of dollars in damage. Flood insurance provides an important safeguard against financial losses, and it is worth considering purchasing a policy to protect your most valuable possessions, even if you live in a low-risk area. Here, the team at BestRate Auto Insurance, located in Statesboro, GA, answers some frequently asked questions about flood insurance.

Flood Insurance FAQs

1. Does Homeowners Insurance Provide Any Protection?

Typical homeowners insurance and umbrella policies do not cover damage to your house resulting from flooding. Homeowners must purchase a separate flood insurance policy to protect their residence.

2. How Is Flood Insurance Purchased?

A flood insurance policy is purchased through a private insurance company, but homeowners are insured through the National Flood Insurance Program. The Federal Emergency Management Agency, or FEMA, is responsible for paying claims to those who experience financial losses due to a flood.

3. How Much Coverage Does Flood Insurance Provide?

A flood insurance policy covers up to $250,000 in structural damage to your home and up to $100,000 to replace your personal possessions. If you require more coverage than that, you should buy a supplemental policy.

4. How Much Does Flood Insurance Cost?

The amount of your premium depends on the amount of coverage you purchase, whether your home is in a flood zone, and the age and design of your house. On average, flood insurance costs about $600 per year.

The flood insurance agents at BestRate Auto Insurance have over 10 years of experience offering comprehensive policies to protect your family and your most valuable possessions. Give them a call at (912) 489-5942 to discuss homeowners insurance policies with an agent, or visit them online for more information.