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Flood Insurance in Texas: Necessary Protection for Your Property
Few people realize protection from flooding is not included in a standard homeowners insurance policy. Providing coverage across Houston, Memorial, Katy, Sugar Land, Rosenberg, Cinco Ranch, Pecan Grove, Brookshire, Fulshear, Cypress, and surrounding areas ,and beyond, we provide tailored plans for your property.
What is Flood Insurance?
Any flood policy provides financial cover for any damage to your property or possessions due to rising water. Private companies might also provide additional coverage for loss of rent and additional living expenses.
Why Get Texas Flood Insurance?
Did you know that we all reside in flood zones? However, the level of risk varies – some of us enjoy lower or moderate risk zones compared to others. Flooding is one of the most common natural disasters in Texas, with low-lying areas, particularly at risk. Unlike most natural disasters, rising water levels are not covered by a home insurance policy, meaning many residents purchase additional insurance for ultimate peace of mind.
Policies can be purchased through private companies or through the National Flood Insurance Program (NFIP). This federally regulated program provides affordable policies, although it only covers up to a certain limit, with excess coverage available.
Is Flood Insurance Legally Required in Texas?
Although Texas law does not mandate flood insurance, mortgage lenders often require it for homes situated in high-risk flood zones, as designated by FEMA. Properties near bodies of water, in flood plains, and at low elevations typically fall into this category. Acquiring an elevation certificate from a licensed land surveyor may be necessary to secure insurance for such high-risk residences, and our experts can help connect you with the right professionals to ensure your home is adequately protected.
Surprisingly, numerous flood claims arise outside high-risk areas, making it wise to consider safeguarding your moderately at-risk home. Thanks to government-subsidized programs, you can attain priceless peace of mind at a nominal cost.
What is the Difference Between NFIP and Private Policies?
There are a few key differences between the two types of insurance you can obtain and we have outlined them here below to help you decide which might be best for you.
|NFIP Coverage||Private Coverage|
|Damage to Building||$250,000 for residential and $500,000 for commercial.||Up to $1,000,000 depending on the insurer.|
|Damage to Property||Actual cash value up to $100,000.||Cost for replacement or actual cash value, limits vary.|
|Deductible||$1,250||Between $1,000 to $50,000|
|Temporary Living Expenses||Not Covered||Coverage Available|
|Loss of Rent||Not Covered||Coverage Available|
How Much is Flood Insurance in Texas? Or Discover the Price of Flood Protection in Texas
Curious about flood insurance costs in the Lone Star State? The answer lies in your home’s location, elevation, and flood risk. Private policies also consider your deductible and limit choices. Dive into safeguarding your Texas abode today!
Best Way to Lower Costs?
You can reduce the cost of your policy by increasing your excess or reducing the coverage limits. Those located in a moderate-risk zone will find policies through NFIP excellent value, while those in high-risk zones may be better off comparing quotes from private companies.
Covering all risk zones throughout Houston, Memorial, Katy, Sugar Land, Rosenberg, Cinco Ranch, Pecan Grove, Brookshire, Fulshear, Cypress, and surrounding areas,, we can provide expert knowledge on flood zones and insurance providers. Speak to one of our specialists today to discover your options.
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