Is flood insurance mandatory in Texas?

Almost every major city in Texas, including Houston, TX, is situated in flood-prone areas. Nevertheless, floods can occur anywhere. Therefore, it’s paramount to get formidable flood insurance to avert massive financial ruins related to flood damage. Modern Risk Management is an Agency in Houston, TX that uses modern technology to identify, assess and control threats that can cause accidents and injuries. Due to modernity, most citizens in Texas find it fancy to live in specific areas like along the beach, on islands, and other risk-prone sites. Living near a beach is risky because of the risks associated in the case of floods. Please contact our agents at Modern Risk Management and get flood insurance coverage that meets your needs and budget.

Is Flood Insurance Mandatory in Texas?

In Texas, getting flood insurance is wise, especially when living in flood zone areas. However, it is not against the law to lack flood insurance. Texas doesn’t require homeowners to have flood insurance, but you may be prompted to buy coverage as security for a mortgage or for those residents residing in flood-prone areas. Are you planning to move to a new location? You need to know if it is a flood zone. There are detailed maps online for property owners to survey whether they are living in flood zones. Modern Risk Management is highly rated for providing fast quality flood insurance policies.

Types of Flood Coverages.

1.     Personal property coverage. The flood insurance policy ensures that policyholders in Houston TX get compensation for their personal belongings like clothes and furniture. Also, the electric machines, curtains, and carpets are covered. If you have a valuable item like original artwork, it is also recovered in case of floods. Devastating floods can occur and cause damage to the freezers and any content inside. Worry not. Modern Risk Management is there for you.

2.     Building Property Coverage. Purchasing flood insurance from Modern Risk Management covers electrical and plumbing systems, detached gadgets, fuel tanks, and permanently installed cabinets and paneling. Moreover, window blinds are also included in the coverage. Fuel tanks, pumps, and solar energy equipment are covered. Texas residents have a taste in style and design. Therefore, valuable building properties are protected. 

Prevention is better than cure. Designing a contingency plan in Houston, TX to counter any losses that floods can propagate. It gets costly for fishing personal savings and cash to pay for all the damages associated with flooding. Please call or visit us at Modern Risk Management and get your flood insurance policy today!

What is covered by flood insurance

Every year the news reports floods that cause billions of dollars of damage to people’s homes and lives. Places that have not suffered before or that have had 100-year floods are not even uncommon anymore. According to FEMA, just one inch of water can cause $25,000 in damage. If you don’t have flood coverage, you will need to pay for this damage out of your pocket. At Modern Risk Management in Houston, TX, we are locally owned and operated. We offer multiple carriers to give our customers choices. 

National Flood Insurance Program (NFIP) is managed by the Federal Emergency Management Agency (FEMA), but you can purchase it through about 60 insurance companies. The rates are mandated, so you can rest assured that you will pay the same rate no matter which company you choose. So when you are deciding, pick a company you know offers great service. Anyone living in a participating NFIP community can purchase this insurance. That means it is available to owners and renters.

Two types of flood insurance are available to purchase. They are sold separately, and you can buy one or both. One covers the building, and one covers the content. As you can imagine, both will help you get back to where you were before the flood. 

The building insurance covers the actual structure and the foundation. It also covers

  • electric system
  • plumbing
  • air conditioning
  • furnace
  • water heater
  • kitchen cabinets
  • built-in appliances
  • refrigerator
  • stove
  • built-in bookcases
  • carpet over unfinished floors
  • fuel tank
  • detached garage

The contents insurance covers

  • your clothing
  • personal items
  • electronic
  • furniture
  • small kitchen appliances
  • microwave
  • washer and dryer
  • carpeting over finished floors
  • window air conditioners

Flood insurance can make the difference between losing everything and being able to rebuild your home and your life. At Modern Risk Management in Houston, TX, we want to ensure that you have the coverage you need. Give us a call to make an appointment for a no-obligation quote.