Flood Insurance

Many people are surprised to find that their homeowner’s policy does not cover flooding. While you may think flood insurance is only necessary for coastal communities, this is far from true. Flooding can occur in many places for a variety of reasons, such as a summer of heavy rain or overflowing drainage streams from one heavy downpour. Flooding is a common event in the Midwest. Homeowners in some areas defined as high risk may have a 1 in 4 chance of a flood over a typical 30-year mortgage. Up to 20% of flood claims come from homes not considered to be located in a high-risk area.

Purchasing Flood Insurance

There is a National Flood Insurance Program that is available to many homeowners.