There are three main categories for flooding risk that Houston residents should insure for˳
The first is for flood damage that happens due to plumbing problems˳ The two main causes of this type of damage are leaks or bursting of water pipes, and overflows such as air conditioning drain pans˳ Some homeowner’s insurance policies will cover this type of damage and others don’t˳ I suggest checking your policy or asking your agent about your coverage˳ If your policy doesn’t cover this you should consider changing to a better policy˳
The next type of flooding damage is driven rain that gets in after windstorm damage˳ This is usually covered on homeowner’s policies˳ An exception would be in costal areas where this coverage is excluded˳ Then you would need a separate windstorm policy with the driven rain option for this˳
The most destructive flooding is the type that results from rising water˳ Houston has suffered flooding frequently in the past so it is advisable to insure for this risk˳ Homeowner’s policy almost always rising water flooding so a separate flood insurance policy is required˳ The least expensive way to get flood insurance is usually with the National Flood Insurance Program (NFIP)˳ FEMA requlates this program and the federal government makes payments for covered losses˳ You can get coverage for just contents, or the home and contents˳ This insurance is also available for businesses˳ You get NFIP flood insurance at a regulated rate from private companys or agents that participate in the program˳
NFIP flood insurance rates depend mostly on what flood zone you are in, how much coverage you want, and what deductable you select˳ The areas of least risk is in the B or X zones˳ These areas usually qualify for the “preferred” rate with a $500 deductable˳
Here are some examples of preferred rates:
CONTENTS ONLY:
$8,000 for $58 per year
$20,000 for $113 per year
$40,000 for $147 per year
$100,000 for $221 per year
HOME PLUS CONTENTS:
$20,000 home plus $8,000 contents for $119 per year
$30,000 / $12,000 for $149 per year
$50,0000 / $20,000 for $196 per year
$100,000 / $40,000 for $257 per year
$200,000 / $80,000 for $326 per year
Texas residents can call my office at 281-537-2700 for more information˳ Or visit our Texas flood insurance website˳
Source by https://ezinearticles˳com/?Flooding-Insurance-Information&id=1379994
