Texas Flood Insurance
Did you know that your home insurance policy won’t reimburse you for flooding events? Many homeowners are surprised to learn this unfortunate reality of modern insurance, but it’s true: Most homeowners policies don’t cover flood damage.
This fact puts Texas residents—so many of whom live on or near Gulf Coast floodplains—in a tricky position. For such homeowners, adequate flood insurance isn’t optional; it’s a necessity.
What is Defined as Flood Damage?
If a pipe in your home busted, flooding the floor, would this event be classified as “flooding” by a typical home insurance policy? Would it be considered a covered peril?
If you answered, “Yes, water damage from a busted pipe would be covered by my homeowners insurance” (or something akin), you’re right: Typical homeowners insurance would indeed cover a water-logged floor or other water damage caused by a ruptured pipe (or a malfunctioning appliance, etc.).
What kinds of events, then, are categorized as “flooding?” This is an important question because knowing the answer will allow you, as a homeowner, to understand the scope of coverages under your existing home insurance policy. What’s covered? What isn’t?
Obviously, any damage caused by an incident of heavy rainfall wherein rising water flooded the home would be considered “flooding.” But the insurance definition of “flood damage” ranges well beyond this type of event, meaning many kinds of flooding events aren’t quite so obvious. What’s important to keep in mind is the fact that your house doesn’t need to be submerged in rainwater to sustain “flood damage.” In the insurance industry, flood damage also includes:
- Rain damage
- Storm surge damage
- Mud damage
Your existing homeowners insurance policy (or any home insurance you’re considering for purchase) won’t cover these kind of events—that’s a fact. As such, you need to make sure your investment is covered with adequate flood insurance.
Where Can I Buy Flood Insurance in Texas?
The vast majority of flood insurance policies across the US, including in Texas, are sold through the National Flood Insurance Program (NFIP), which is overseen by the Federal Emergency Management Agency (FEMA).
Texas homeowners wanting to purchase NFIP flood insurance must use an NFIP-Direct-affiliated agency. Walzel Insurance Agency Inc has sold NFIP flood insurance to clients for many years.
What type of Flood Insurance Do I Need?
NFIP flood insurance policies come in two types:
Standard Flood Insurance
Standard flood insurance is designed for people in communities with an active, ongoing flood management plan. These communities are required to demonstrate that they’ve enacted certain NFIP guidelines to reduce flood-based damages.
Preferred Risk Flood Insurance
Preferred risk flood policies are designed for homeowners living in low-to-moderate risk zones. These homeowners residents aren’t required to purchase flood insurance, but have this option in case they experience a small flood or even an unexpectedly large one.
Walzel Insurance Agency Sells NFIP Flood Insurance
If you’re shopping for flood insurance anywhere in Texas, we’d be thrilled to speak with you! Walzel is an NFIP-Direct-affiliated agency and can help you find and purchase appropriate flood insurance.
We’ll answer all your questions about flood insurance, enabling you to make informed coverage decisions. For a free online flood insurance quote, click here, or call Walzel Insurance Agency today at 281-422-2027.