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Fire & Water - Cleanup & Restoration

Do I need flood insurance?

2/18/2020 (Permalink)

Heavy rain can flood low lying areas very quickly

The fact is – any property can flood. Your home doesn’t have to be less than five feet of water from hurricane flood surges to suffer flood damage. Normal amounts of rainwater can drain under your home, and flood your basement or the lowest floor level, causing flood damage. This kind of flooding can cause mold, increase the risk of termites and cause electrical problems.

More than 75% of homeowners devastated by flooding unfortunately discover they should have had flood insurance. The sad thing, experts say, is that flood insurance is not that expensive – typically $450 to $600 a year for the average home. When you weigh the cost of flood insurance against replacing your entire home $100,000 to $500,000, it only makes sense to buy it, whether you believe you’ll need it or not. “People may say things like, ‘I live on a hill, and I don’t need flood insurance’.

Common reasons people give for not buying flood insurance include:

  • “I’m not in a flood zone.”
  • “I’m not anywhere near water.”
  • “I’ll never need it, it's money wasted.”
  • “My homeowner’s insurance will cover it.”
  • “It’s not available.”
  • “My realtor told me the property would never flood.”

If your home or business has been flooded, please call SERVPRO of Cambridge/Belmont (617) 864-7378

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