When to Buy Flood Insurance
Like almost everybody else who saw them, the images of flooded homes and in Houston after Hurricane Harvey is probably indelibly imprinted in your mind. If those images did anything at all, it was to remind us that water is capable of doing some very serious damage!
The Federal Emergency Management Agency (FEMA) cites water damage from floods as one of the most common and costly hazards in the U.S. Statistics by the NFIP (National Flood Insurance Program) indicate that in the course of a 30-year old mortgage period there is a 1 in 4 chance of damage caused by water in high-risk areas. Unfortunately, many home and business owners suffer those losses because flood damage is not covered by typical insurance, and they never bother to get federal flood insurance.
