Flood insurance is one of the most misunderstood types of coverage. Confusion over how flood policies work and who needs them has led to many misconceptions that keep property owners from being adequately protected. Since water damage can result in thousands of dollars worth of damage, you need to separate fact from fiction and learn the truth about flood insurance. Here are some of the most common myths surrounding the topic.

3 Common Misconceptions Regarding Flood Insurance 

1. Coverage Is Only Necessary If You Live in a Flood Zone 

While structures in designated high-risk zones need flood insurance, all properties face a certain level of liability. All 50 states are prone to flooding in some capacity, and floodplain maps are constantly changing to include new areas. This makes it important for every home and business owner to consider their coverage options.  

2. Flood Damage Is Covered Under Standard Homeowners Policies 

This is a mistaken belief that has cost numerous homeowners a substantial amount of money. Standard homeowners insurance policies specifically exclude damage caused by floods, except in the event of a storm. This makes it necessary to purchase separate coverage to obtain the security and protection flood insurance provides. 

3. Flood Insurance Covers All Damages 

Although flood insurance will cover quite a bit of damage to property and personal possessions, there are coverage limitations. Most flood policies do not include preventable damage caused by mold, mildew, or moisture. Many also exclude vehicles and property located outside of an insured structure, such as septic systems, patios, fences, decks, swimming pools, and water wells. 

Debunking the myths about flood insurance is the first step in identifying your flood risk and need for coverage. The professionals at Simmons Insurance Group of Southeastern Ohio can provide more information on the value of flood policies and help you determine how much protection to add to your current policy. For over 45 years, they have served the community of Coolville, OH, offering high-quality products designed to mitigate the financial burden of unexpected disasters. Call (740) 667-3111, or visit them online to fill out a flood insurance quote form.