If you are not properly insured in your home against flood damages, a flood could wipe out everything you own. Unfortunately, flood insurance is not included as a standard type of coverage in typical homeowner’s insurance policies, so it needs to be bought separately. 

Those who are in the process of buying flood insurance need to avoid a few severe mistakes to make sure that their property is adequately and efficiently protected against flood damages.

Being unaware of flood probabilities for your property

In order to determine the importance of flood insurance and how much coverage you need, you should be aware of how likely it is that you will experience a flood at your property. 

You can get some help in figuring out your flood risk by using flood zone maps. Learn how to read these maps. The higher your flood risk is, the lower you’ll want your deductible to be and the more coverage you’ll want.

You can also gauge your flood risk by discussing it with neighbors in your community.

Being unaware of the National Flood Insurance Program

If you live in an area where flooding is likely, you may be able to purchase a lower-cost flood insurance policy with the help of the National Flood Insurance Program. This program offers government-subsidized flood insurance coverage for homeowners who are located in high-risk areas. 

Overlooking important coverage types

You need your flood insurance to cover both repair/replacement costs and clean-up costs. You should be aware of the fact that clean-up costs can be among the largest expenses when it comes to flood damage, so check your clean-up cost coverage amounts and make sure they’re high enough. 

Contact us at Advantage Insurance Network if you are a homeowner in Cincinnati, OH who is in need of flood insurance coverage. We’ll be happy to answer your questions or make insurance recommendations for your household.