Here are a few key facts on flood insurance for your home and what it entails. Regular homeowner’s insurance does not cover flood insurance. You can purchase flood insurance separately, but the amount of money charged depends on how close you live to high-risk flood zones. Yearly charges range from around two hundred dollars to over a thousand in areas known to be at risk. Your mortgage lender may or may not require flood insurance. As explained by insurance agent Lexi Harper, flood insurance for the home itself is separate from insurance for personal belongings. Purchasing both types of coverage may be the best decision for those in floodplain areas. As local rainy weather continues, flood insurance is an important option to consider. Those interested should act quickly, as the waiting period is 30 days.
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What you need to know about flood insurance