Many homeowners don’t think about flood damage until it occurs at their home. That’s when they learn that traditional homeowner policies don’t cover flood damage. As flooding can occur from heavy rainfall, improper outdoor drainage or natural disasters, it’s important to consider protecting your home with flood insurance.
Flood Insurance Basics
Flood insurance is run through the federal government via the National Flood Insurance Program (NFIP), although local insurance agents can assist with the purchase. Flood protection typically has a 30 day waiting period, and payment is required in full at the time of purchase. It covers damage to the structure of your home and personal possessions that is caused by flooding. The flooding must be the result of natural occurrences or rain, not a broken water pipe of other internal water damage.
Who Needs Flood Insurance?
If your home is located in a designated flood area and you still have a mortgage on it, federal law or your mortgage company typically requires that you purchase flood insurance. For other homeowners, purchasing flood insurance is optional. However, if you live in a flood zone or an area that has frequent rain or minor flooding, it’s a good idea to get this important coverage.
For more information about insurance coverage in Texas please contact The Schwab Agency, located in Colleyville.

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