Texas Flood Basics and Coverages
Flood insurance is a type of insurance policy that provides financial protection against losses or damages resulting from a flood. It typically covers damages to the insured property and its contents from events such as rising water levels, heavy rainfall, and tidal waves. Flood insurance may also cover the cost of temporary housing and other expenses associated with a flood.
Flood insurance is typically not included in standard home insurance policies and must be purchased separately. It is typically required for properties located in high-risk flood areas, but it may also be available for properties in lower-risk areas.
There are two types of flood insurance policies available: standard flood insurance, which is offered by the National Flood Insurance Program (NFIP), and private flood insurance, which is offered by private insurance companies. The specific coverage options and limits will depend on the policy you choose.
It's important to carefully consider your insurance needs and to determine whether flood insurance is right for you. Factors to consider may include your location, the flood risk for your property, and your ability to afford the cost of repairing or rebuilding your home in the event of a flood. If you have any questions about flood insurance or your insurance needs, it's a good idea to discuss them with your Texas Edge Agent or broker.