Why Flood Insurance Is A Must Even If You Don’t Live In A Flood Zone

With flood zones constantly changing due to evolving weather patterns and other factors, it is possible not to live in a flood-prone area one day and be in one the next. While it may be tempting to believe that your homeowner’s insurance will cover flood-related damage, it is often one commonly excluded peril. Consequently, you can be on the hook for thousands of dollars in repair costs – for even minimal damage – if you do not have flood insurance. If you live in a Special Flood Hazard Area, as defined by FEMA, you’ll likely be required to purchase flood insurance if you have a federally backed mortgage. FEMA defines flood zones as places with a significantly higher statistical probability of a flood occurring. 

Flood insurance will cover the replacement cost of your home or the actual cash value of damages to your policy maximum, making it important to choose coverage amounts that accurately reflect the value of your home and personal belongings. Flood insurance can be purchased through the National Flood Insurance Program if you are in a high-risk zone or through private insurers like the Smith Insurance Agency of West Virginia. With most policies taking 30 days from the point of purchase to be effective, you’ll want to purchase flood insurance now to avoid costly repair bills in the future.

For further information on flood insurance, give our Kingwood, WV office a call to schedule a complimentary consultation with a knowledgeable insurance professional that can answer your questions and help with selecting the best policy for your needs.

5 Reasons to Purchase Flood Insurance

If you’re like many homeowners in the Kingwood, WV area, you’re probably wondering if flood insurance is really a need, especially if you don’t live in a high-risk flood zone. The truth is that flooding can occur almost anywhere. Without flood coverage, you risk losing your home. At Smith Insurance Agency of West Virginia, we want you to make smart insurance choices. Here are a few reasons why we believe you should seriously consider flood coverage.

Saves You from Financial Ruin

Flooding can totally devastate a home, not to mention ruin everything inside. Without insurance coverage, you could suffer substantial financial loss. With flood insurance, you’ll have the financial help you need to recuperate from flood loss.

Home Insurance Doesn’t Cover Flooding

Home insurance does NOT cover flood damage, putting you at risk of having to pay for damage on your own. Unless you have the financial means to recover from a flood, it only makes sense to protect your home with flood insurance.

Floods Can Occur Anywhere

Floods aren’t restricted to high-risk flood zones. Floods can and have occurred in both low and moderate risk areas, putting almost all homeowners in Kingwood WV at risk of flood damage. That’s why it’s so important to be prepared with flood coverage.

Flood Coverage is Affordable for People Who Don’t Live in Flood Zones  

Flood insurance is affordable if you don’t live in a flood zone, giving you no reason not to protect your home with flood coverage.

Peace of Mind

Flood insurance will give you peace of mind that you’re protected from potential flood disasters. Taking into consideration the devastation that flooding can cause, that alone is worth the cost.

For more information about flood insurance coverage and costs, contact Smith Insurance Agency of West Virginia.

Is flood insurance required in West Virginia?

The Kingwood, WV area can be a great place to live and own property. If you do own real estate in this area, it is vital that you get the insurance that you need for it. One form of coverage that you may need to get could be flood insurance. There are several situations when having flood insurance will be a requirement for you. 

When In a Flood Zone

The first situation when you could be required to carry flood insurance is if you are in a flood zone. People all over the state of West Virginia could live in an area that FEMA considers to be at risk for flood damage. If you are in one of these zones, your mortgage lender will often be required to force you to carry flood insurance. 

Association Requirements

Another situation when you could be required to carry flood insurance is if you are in an area that has a home association. Community associations across the country want to make sure that property owners can rebuild their homes if they are damaged. When you get flood insurance, it will reduce the risk that your home will be damaged without any ability to restore it. Due to this, many associations located in flood zones do require that their property owners carry flood insurance at all times.

For those that are in the Kingwood, WV area, and need to get flood insurance to meet their requirements, contacting the team at the Smith Insurance Agency of West Virginia is a necessity. When you speak with the team at Smith Insurance Agency of West Virginia, you will receive the guidance and support you need to choose a quality flood insurance policy. This will ensure that your home is adequately covered against this risk. Contact our office for more information.

3 Tips for Buying Flood Insurance

If you haven’t thought about flood insurance, now is the time. Flooding does happen in West Virginia due to inclement weather, but that’s not the only cause of flooding. Faulty pipes or an old roof can also cause property flooding. To protect yourself and your assets, it’s a good idea to purchase flood insurance to protect your home in Kingwood, Morgantown, or anywhere in the state. Read on to learn about tips for finding the right policy within your budget.

1. Bundle Your Policies

When you bundle all of your insurance policies under one company, you save money on your premiums. Combine your new flood insurance policy with your auto, life, home, umbrella, or other policies under one insurance provider. An agent from Smith Insurance Agency of West Virginia in Kingwood, WV can help you with this.

2. Compare Quotes

It’s recommended to compare several flood insurance quotes before making a decision. Go over the details carefully and have an insurance agent help you, so you don’t miss anything important. 

3. Work with a Reputable Agent

An experienced, reputable agent will help you find the right coverage at a cost you can afford. When it comes to protecting you, your family, and your assets, you need the proper coverage. Don’t try to do it on your own when agents are standing by to help.

To learn more about purchasing flood insurance for your property in West Virginia, contact the team at Smith Insurance Agency of West Virginia in Kingwood, WV. We will answer all your questions and get you started on a quote for flood insurance.