Flood insurance is definitely something you want to consider, not just for the property your home sits on, but perhaps your business as well if it’s a commercial property.
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Here are some common myths regarding flood insurance:
Myth 1
You can’t buy flood insurance if you’re in a higher risk area. Most communities in the United States participate in the “National Flood Insurance Program” which more than likely means your property is eligible for coverage. The program specifically targets areas that more susceptible to flooding.
MORE COVERAGE |Why is Central PA so susceptible to flooding?
Myth 2.
Your homeowner’s policy covers flood insurance. Many homeowner’s policies don’t have flood insurance included. It is something you must add on. And if you live outside of a susceptible area, the insurance cost is usually pretty affordable.
Myth 3
Flood insurance is only available for homeowners. Not true! There is coverage for your business as well. This is something to think about when you have another physical address that is the location of your business.
Make sure that whatever policy you decide to end up getting not only covers the physical structure of your home/property, but also the contents like all of your possessions that exist within it.
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