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Who needs Flood Insurance? The answer is "Everyone."
Natural disasters aren’t the only cause of a flood though—flooding can come from just about anywhere. This has left many of us asking the same question: Do I need flood insurance?
Ironically, despite the loss flood victims may face, the homeowners likeliest to come out on top financially are those in the high-risk flood zones because their mortgages require them to carry flood insurance coverage. While you may not be able to remove the risk of flooding, you can take measures to considerably reduce your risk—both financially and physically. By talking with ACBI Insurance to see if flood insurance is the right fit for you, understanding your options, and planning ahead, you will be armed with information to make the best choices for both your home and your family.
Since Hurricane Katrina in 2005, the number of homeowners nationwide with flood insurance has declined to just 12%. Even in coastal areas, only about 20% of homeowners have flood insurance. Why is that? Are those of us without flood insurance truly safe from a flood, or do we simply have a false sense of security? Here are several quick facts about floods you might find surprising.