Flood Insurance: Do You Need To Be Covered?

When it comes to flood insurance, it is not always cut and (rarely is it) dry. Many people assume that a flood is covered under a typical homeowners insurance policy, however, that is not the case. Conner Insurance offers flood insurance to our clients as a stand-alone policy and will make sure you are covered if you need it. Let us go over some details and help explain what would warrant adding a flood insurance policy to your homeowners insurance.

What Exactly is Flood Insurance?

Flood insurance coverage is provided from a stand-alone insurance policy through a FEMA-backed policy or a private flood insurance company. FEMA is responsible for underwriting flood insurance coverage under their program, which happens to be the nation’s largest single-line insurance program. Flood insurance can protect buildings, the contents inside the building, or both.  

Do I Need Flood Insurance?

Flood insurance is always an option for those who we insure. However, flood zones are available to help determine how likely it is that a flood would happen in your location.  Your mortgage company will also let you know if this is going to be a requirement, just as homeowners insurance is a requirement. The individual acquiring the flood insurance has no bearing, unlike a typical home insurance quote.

Are All Flood Zones the Same?

Various degrees of flood zones are determined based on the frequency of floods in the past 100 years. The higher the frequency of floods, the higher the rate in that area. These zones can be found through the FEMA website, which will assign the home its appropriate flood zone. The premium amount is then determined based on location, the coverage amount requested, and the deductible amount. 

Ask About Adding Flood Insurance Today

If you are purchasing a new home that requires flood insurance or are interested in your current home’s flood zone and flood coverage, feel free to reach out to one of our advisors to walk you through some options. At Conner Insurance, we have set the standard for superior guidance and exceptional service for more than 70 years. Contact us at (317) 808-7711 to speak to one of our advisors. We are located in Indiana and serve the whole state, including Indianapolis, Fort Wayne, Carmel, Noblesville, Westfield, Fishers, Brownsburg, and Evansville. We also provide insurance and benefits to all fifty states.