Statistics put the cost of recovering from just one inch of water in a home at $25,000. Nobody wants to learn their homeowners insurance doesn’t cover flooding after the damage is done. Yet, many do, since flood events aren’t included in the vast majority of policies.
Wherever there is rain and water, there is the potential for flooding and a need for flood insurance. Even those in low-risk areas are susceptible. Whether your home is in low-risk zone, your lender requires it or your area is prone to flooding, flood insurance is an important addition to your insurance portfolio.