Value of flood insurance debated | ajc.com
Just another article about house insurance that talks about the risk of flooding and the value of a flood insurance policy on your home. Unless you specifically included flooding in your homeowners policy or purchased a separate policy from the National Flood Insurance Program, you probably are not covered in the event of damage to your home by flooding.
Nationally, the average flood insurance claim is about $28,000, and 20 to 25 percent of claims are filed by people in low-to-moderate risk zones.
Link: http://www.ajc.com/news/value-of-flood-insurance-618389.html (sent via Shareaholic)
And don't think that FEMA or disaster recovery agencies will take care of you in the event of a major flood. They may provide assistance, but more often than not, this is in the form of loans...with interest.
So, even if you are in a low risk area, it might be time for a house insurance quote that includes flood protection. Don't be caught unprepared.