Buying a home is a significant investment, so you’ll want to make sure your new property remains safe and secure. Homeowners insurance will protect you financially in the event of certain crimes, emergencies, and disasters. However, you’ll likely need to take out an additional policy that offers coverage for flooding and water damage. Below, you’ll find a helpful guide to the differences between these two types of insurance.

What’s the Difference Between Flood & Homeowners Insurance?

Flood Insurance

Since homeowners insurance does not cover property damages caused by water infiltration, you’ll need a separate flood policy. In the wake of a strong storm or rising body of water, moisture may enter your space and damage your furniture, appliances, electronics, electrical systems, HVAC units, plumbing, flooring, and home structure.

Flood insurance will cover the costs of water damage restoration, repairs, replacement belongings, and temporary relocation. When you purchase it through a local insurance company, you’ll pay one flat rate for the year, rather than a monthly premium. 

Homeowners Insurance 

Homeowners insurance policies permit you to choose the amount of coverage you need, which makes deductibles and premiums flexible. Basic policies cover repair and reimbursement expenses associated with fire, smoke, wind, hail, theft, and vandalism. You may also purchase coverage for damages to fences, sheds, and detached garages.

Additionally, homeowners policies offer liability coverage in the event that a guest or worker becomes injured on your property and will pay for the cost of medical care. It also covers legal expenses in the event that you are sued for accidents or injuries that occur. 

Protect your property from water damage and other disasters with flood and homeowners insurance from BestRate Auto Insurance. They also provide car, motorcycle, ATV, boat, and renters policies to customers throughout Statesboro, GA. Call (912) 489-5942 to start building a homeowners policy or add flood insurance to your existing one. Visit the website to learn more about how they can help you manage risks and keep your property safe.