Five Misconceptions about Flood Insurance in Texas

Flood insurance is not something restricted to those living in high-risk zones. This post takes you through some misconceptions about flood insurance .

Texas plays host several cities and in recent past, devastating floods and flash floods have been witnessed in various parts of the state. Cities like Oklahoma, Rio Vista, Lubbock, Nebraska, Louisiana and Arkansas are just but a few of those which have experienced wet seasons and flooding. Despite warnings by weathermen often issued about impending bad weather and calls for evacuations by government officials, there are still people who always end up being caught up by floods. While calls for massive evacuation is always the first precautionary measure people in flooding zones are support to take, one thing that many homeowners and businesses persons have never taken seriously is what happens once the floods are over.

How important is insurance against flooding?

Extremely adverse weather conditions like Hurricanes have always left behind total devastation, taking everything in sight with them; life and property. While people can be evacuated in good time in a bid to save lives like it happened in the year 2008 when Hurricane Ike caused massive loss of life and damage to property in Texas, it shouldn’t be forgotten that once the effects of the hurricane such as massive flooding was over, those whose businesses and homes were washed away had to seek help. It is at this point in time that more often than not, many begin to realize just how insurance against flooding is important.  Businesses were also cut off from power supply and damage to property was witnessed even in high-rise buildings whose glass windows were smashed. Trees and locomotives were also washed away leaving the surface bear and people started counting huge losses. It is those who had insurance cover that quickly managed to pick up their lives from ruins.

Insuring your business or home against flooding is therefore something many people across the state of Texas should seriously be concerned about. The question however is; what is the right insurance cover against floods? Also, can your general home insurance cover be a basis upon which you get compensated in the event that your home gets damaged or even washed away by floods as a result of heavy downpour or hurricanes?

In cases where people take cover policies against flooding, it is those living in areas considered as low-lying or flood zones who think they are the only legible group. These are areas near coastlands or rather flood plains which occasionally witness heavy flooding across the mainland whenever there is either light or heavy downpour. Agreeably, natural disasters are very uncertain and you can never tell who becomes the next victim should there be extreme weather conditions like presently Hurricane Mathew which has swept through parts of the Caribbean and the Bahamas causing loss of property and life and is now furiously surging towards the U.S where it is expected to hit hard the east coast of Florida.

What’s the right cover for you against floods?

There are a range of insurance cover policies to choose from and when it comes to one that will insure your home and other property against floods, it is important be aware of to what extent does home insurance cover you. It is also important to find out under which circumstances it is important to insure your home against effects of flood. Further, it is important to know types of cover policies that are included in flood insurance. This is because many homeowners in Texas and the U.S at large are still at pains to understand what the right type of flood insurance is. Well, is the standard homeowners’ insurance policy all you need? In this blog, we take a look at some misconceptions homework owners always have towards flood insurance cover.

Misconceptions about Flood insurance in Texas

When it comes to insuring one’s home against flood, certain myths need to be demystified and below are some of them;

•        Flood cover is restricted to high risk areas

Well, the notion that anyone who takes cover against flood must always be within the zoned areas is a big lie.  In fact, flood zones change from time to time depending on disaster response unit mappings. Preparedness against floods is therefore something which needs to be taken into account even by those living outside zoned areas by ensuring to take flood insurance cover.

•        Homeowners insurance takes care of  flooding

While lots of things are usually covered by basic home owners cover, it is imperative to note that flood cover is never part of it. Floods are treated as a separate entity which requires insurance of its own and therefore does not fall under homeowners’ insurance cover.  On this premise, it is important to know the difference between water damage and damage caused by leaking roofs or damage that takes place in the event that a water pipe bursts.

•        The misconception that any kind of water damage is the same

There is a big difference between damage to property caused by floods and that caused by heavy storms and in which case a roof gets blown off letting water into a house. Therefore, in the event that your house gets damaged by heavy rains due to a roof that is seriously leaking , the cover for it doesn’t not fall under flood cover but under homeowners insurance cover.

•        Flood zones are static

From time to time, flood maps are re-examined and new areas which are potentially at high risk identified. This is to say that even those who are living far away from flood plains can always take flood insurance cover. You never know when your area becomes a high risk zone.

•        An insurance against flood is enough to take care of everything

This is a myth.  Well, you need to always factor in insurance caps applied by companies in the event that damage to home or property is caused by floods. You might just need a private carrier to take care of other damages cause by floods because limits applied by insurance companies are usually capped at $250, 000 for the structure and $100, 000 for specified contingencies.