Flooding can happen anywhere, and it’s not just a problem for people who live in high-risk areas. In fact, according to the National Flood Insurance Program, about 25% of flood insurance claims are from low and moderate-risk places. So if you’re wondering whether or not you need flood insurance, the answer is probably yes. Here we discuss some factors that determine your risk level and whether or not you should buy flood insurance.
Why You Need Flood Insurance in a Low-Risk Area
There are a few reasons you might need flood insurance, even if you don’t live in a high-risk area. First, just because your area isn’t considered high risk doesn’t mean it can’t flood. Flooding can occur anywhere there is heavy rainfall or melting snow. It doesn’t have to be a hurricane or other natural disaster to cause problems.
Second, your home could still be at risk even if your area isn’t prone to flooding. If your home is near a body of water that could overflow in a heavy rainstorm, you might consider buying flood insurance. Finally, if you have a mortgage on your home, your lender might require you to buy flood insurance.
How to Determine Your Risk Level
There are a few ways to determine your risk level for flooding. The first is to check the FEMA Flood Map Service Center to see if your home is in a high-risk area like Houston, TX. If it is, you’ll probably be required to buy flood insurance.
You can also check with your local floodplain manager to see if there are any special flood hazard areas near you. Even if your home isn’t in a designated high-risk place, you might still be required to buy flood insurance if it’s located in a special flood hazard area. Talk to a reputable agency such as Modern Risk Management to learn more about your flood insurance needs.
Give Us A Call
Flood insurance is not required if you don’t live in a high-risk area, but that doesn’t mean it isn’t a good idea. Modern Risk Management in Houston, TX can help you determine whether or not flood insurance is right for your situation. If you’re unsure, talk to our insurance agent to get more information.