Flood insurance is a type of addendum attached to an existing property insurance policy; as the name suggests, it protects the policyholder against damage incurred from a flood. However, there are many myths surrounding this type of coverage that make decision-making problematic. To clear matters up, the following information should help you decide if flood insurance is right for your situation.

3 Persistent Misconceptions About Flood Insurance

1. It Comes Standard With a Home Insurance Policy

Most providers specifically exclude floods from the list of hazards covered under a basic homeowners policy. To protect your property against this type of event, you need to purchase a rider for an additional monthly premium.

2. You Don't Need Coverage if You Don't Live in a Flood Plain

Floods can occur anywhere; between 20% and 25% of all claims are in areas outside of designated danger zones. For instance, you might be at risk if you live near a levee or dam.

3. FEMA Disaster Aid Will Protect You

Disaster aid from the Federal Emergency Management Agency only applies if the president declares the flood a disaster, and even then, it often comes in the form of loans you must repay. Flood coverage, however, pays out regardless of the event's disaster status, and you don’t have to repay your provider for the amounts received.

If you’re deciding what type of coverage you need for your home, consider adding flood insurance to your policy. Bobby Brown Insurance Agency in Milledgeville, GA, has been serving businesses and residents throughout Baldwin County for nearly 40 years, so they have the experience and expertise to offer invaluable guidance and advice. They also specialize in business, life, auto, and home insurance. Call (478) 453-9496 to request an insurance quote, or visit them online to learn more about flood protection.