When first-time buyers invest in a standard homeowners insurance policy, they often assume their coverage will take care of whatever nature or bad luck brings their way. However, you might be surprised at the disasters that are excluded. For example, did you know you need a separate policy to protect your home from flooding? If you’re wondering whether you need to secure flood coverage, consider the following guide.

Does Your Home Need a Flood Policy?

The most important factor is the location of the home. Is the region frequented by hurricanes or severe thunderstorms? Does your property sit near a large body of water? Is it above or below sea level? Since your homeowners policy won’t protect against flooding caused by natural disasters, flood insurance is essential for people in high-risk areas.

The other half of this consideration is the position of the home. Does the land around it slope toward or away from the structure? Water follows gravity, so if that path leads to your door, protection is warranted. Additionally, if you have a basement or if your property has been flooded in the past, you should consider securing this coverage.

Where Do You Buy It & What Does It Cover?

There are two main routes through which homeowners can procure flood coverage—private providers and the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP). If you choose to opt for FEMA’s program, your policy will be written by an agent and backed by the government. However, you can only secure such a policy if you live in an area marked eligible by FEMA, and you can only receive coverage for houses worth up to $250,000. Additionally, the contents of your home are only insured up to $100,000, and your policy won’t kick in until 30 days after it’s issued. 

If you opt for private flood insurance, you can expand your coverage to take care of your entire property. You can also purchase partial coverage through a private insurer as an add-on to your NFIP plan. Since NFIP plans don’t cover detached structures such as guesthouses, outdoor belongings, basements, or pools, a private policy is essential for many. With private flood protection, you can cover a property worth up to $2 million and personal property up to $1 million. 

If you believe your home requires flood insurance, get in touch with Ebert Agency of Foley, AL, today. Since 1928, the team of agents has been offering property owners peace of mind, whether they need homeowners, flood, health, or auto coverage. To learn more about their wide variety of offerings, visit the website. Call (251) 943-2281 to build a personalized policy that meets all your needs.