What Should Be Covered in Your Homeowner’s Insurance Policy?
Answer: the coverage you need on your home.
The appropriate follow-up question would then be, “Well, what insurance coverage do I need?”
That is the right question to ask and will lead you to understanding why flood insurance isn’t packaged into your home insurance policy and comes as an additional coverage.
Don’t Complain — It’s Designed to Save You Money on Insurance
Homeowners Insurance policies are fairly generic with the options to increase risk exposures where necessary. This leaves homeowners with the ability to add additional exposures they may face that other homeowners may not require.
If flood insurance were included on your Home Insurance cost we would have reason to complain about paying for an unwanted coverage that is built-in, but luckily it is designed to be an additional coverage option. If you need it or want it, it is available to you.
Who Should Want Flood Insurance Coverage To Be Added To Their Homeowners Policy?
In high-risk flood zones it is required of homeowners to carry the added coverage. This doesn’t mean if you’re outside a flood zone you don’t need the coverage! The amount of risk greater for someone in a high-risk flood zone, but the coverage is still valuable to many homes outside a high-risk flood zone.
Our Insurance Company can cover your home to the extent you want that is best for your insurance needs. We want to create a tailored policy for your unique needs.
Know Your Policy!
Too often people think they are covered when they are not. This can all be prevented by reading your policy or discussing it thoroughly with an insurance agent invested in your success.
As terrible of a read it may be, read your insurance policy. Our insurance agent’s can help you understand where language may be confusing, but it is so important as a policyholder to understand your contract.
Key components of your insurance contract:
- Who is the insured?
- What’s being covered?
- What are the term, conditions, and/or responsibilities of the insured and the insurer?
- What’s not covered?
Flood Insurance Is Not Covered On Most Homeowner Policies & You Should Be Glad
The Insurance Company has not included flood insurance to all policies because many homeowners would prefer to do without the coverage, and if it were built in to the policy homeowners would be paying for something they don’t want. Simple. It is often recommended for homes that are not even in a high-risk flood zone, because you never know where nature is going to strike.
[Tweet “1/4 of all flood insurance claims last year were from homes not considered to be in a flood zone.”]
Talk with a knowledgable agent for good insurance advice. You can review your policy with your insurance agent at anytime, and they can help answer any questions you may have about your coverage.
Your insurance needs are unique. With the unique risk exposures you face, you want an insurance policy fit to the risks you face. Southern States Insurance can tailor a policy specific to you or answer any questions you may have.
Ultimately — Be sure your homeowners insurance policy is covered for the risks you face.