Flood Insurance in Texas
Just moved into a high-risk flood area? You may want to consider purchasing flood insurance. Texas is well known for heavy, destructive floods that often hit different counties. That is why flood insurance is available for both commercial and residential properties in Fort Worth, TX. If you are looking to buy flood insurance, you can trust Planners Insurance Group's insurance experts for advice and any insurance needs.
What is flood insurance, and what does it cover?
Just like home insurance, flood insurance is residential and commercial property insurance that protects the dwelling from damage or losses by water. However, there is a catch--not all water damage is covered. For flood insurance to come in, the water damage must be caused by heavy rainfall, coastal storms, levee dam failure, melting snow, or blocked storm drainage. Your home insurance covers water damage from your overflowing swimming pool unless the floods are directly caused by rainwater. Flood insurance covers the dwelling and its contents.
Is flood insurance necessary?
The National Flood Insurance Program is generally available in the communities around Fort Worth, TX and recommends purchasing insurance if you live in a high-risk flood area. Even if you do not live in a flood zone, you may need to buy flood insurance to provide coverage just in case things get bad. Research has found that no one is safe from floods, as a wide range of events can cause them. If you are a property owner in Texas, you need to protect them from damage caused by floods, whether they are for commercial or residential purposes.
Flood insurance: how does it work?
Flood insurance is similar to other insurance policies. You are only required to pay annual premiums based on the value of your home, the structure, and the contents inside. If you just bought a new home, your lender may require that you carry flood insurance depending on where your home is located. There is also a 30-day waiting period for the policy to go into effect.
Feel free to contact us at Planners Insurance Group, and we will be happy to help.