Purchasing homeowner’s insurance is one of the best things a homeowner can do for their investment. During their lifetime, one of their most significant investments they will make is to purchase their home. To help protect this investment, homeowner’s insurance covers losses and damages caused by such things as damaging weather conditions or fire. However, if words like damaging weather conditions are heard, one would assume flooding damages would be covered due to heavy excessive rains being the cause of many floods.
Flood Insurance in Tampa FL Saves Homeowners Thousands of Dollars
Many homeowners believe their homeowner’s insurance covers flood damage, finding out too late that it does not. Flood damage is not covered by homeowner’s insurance policies, even though some types of water damage are. In order for a home to be protected from flood damage, flood insurance in Tampa FL will need to be purchased separately. When considering flood insurance, keep in mind flooding damage is extremely expensive and this protection can potentially save homeowners from a great expense.
Flood Insurance Misunderstanding
There are many misunderstandings about flood insurance. Many homeowners believe they should only purchase flood insurance if they reside in areas where there is a high risk of flooding. Some think they would be wasting their money if they live in a home that has never experienced a flood. However, the truth is that more than twenty percent of flood insurance claims are from homeowners living in areas where flooding risks are considered to be low-to-moderate. There are many reasons why flooding may occur, and it can happen anywhere. No matter where you live, flooding can happen to you!
Some mortgage companies require flood insurance in Tampa FL, if the home if located in an area of high-risk. Most times there is no requirement to purchase flood insurance, and the decision is up to the homeowner. Flood insurance in Tampa FL is simple for homeowners to purchase, but remember after purchasing a policy there is a 30 day waiting period before it becomes active.
For more information, contact A. Kilbride Insurance, or call us at 813-238-7467.