How to Know if You Need Homeowner's Flood Insurance

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You may not necessarily need homeowner's flood insurance if your home and property doesn't meet a few key characteristics. Find out how to know if you need homeowner's flood insurance with help from a registered real estate broker in this free video clip.

Part of the Video Series: Real Estate Info
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Video Transcript

My name is Cathy McClellan. I am a Florida real estate broker and certified building contractor with today's home real estate in Panama City, Florida. Our topic for discussion today is flood insurance. You don't need to go really too far back to remember hurricane Katrina and the devastation that it caused along the gulf coast. Louisiana, Mississippi, Alabama coastline. These folks, if you were to ask them about flood insurance, they would be able to tell you they had homeowner's insurance policies that excluded flood. A hurricane is considered a hurricane, but the damage that it causes is considered surging water. That's not included in your regular homeowner policy. That's not going to be covered, they're not going to pay you. A lot of folks that suffered through that storm were left with nothing because they didn't know that their policies did not cover for surging waters. There's a program in place through the national flood insurance program for flood insurance. If you live in a lying or coastal area it would be of you to check to see if you are required to carry flood insurance. Your lender may require that you have flood insurance to protect your mortgage. It's well worth the money in case there is a natural disaster and you won't have to worry about it if another hurricane comes through. Most people think of insurance that covers fires things like that. They don't think about flood and they need to think about flood. Minimal premium, you have the peace of mind knowing that if another storm comes through, you're covered. Hope this information is helpful. This is Cathy McClellan. Until next time.

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