What is the current state of the San Antonio Real Estate market?

If you’re here, then you know that the San Antonio Real Estate market has been crazy!

We were curious ourselves, so we asked our friend, business partner, and client, Tadd Chapman, to provide some analytics on the current Real Estate market in San Antonio. Please watch the 2-minute video below for some updates and the latest statistics below:

Keep in mind that increasing home market values, often times DOES NOT equal the rebuild value of the home. For more on that, please contact us at EIA. We’ll be happy to educate you on the difference between the market value and rebuild value… and how that could impact your homeowners insurance.

If you would like to reach out to Tadd directly, here is his information below:

Momentum Group I Keller Williams Heritage
o: 210-920-0447 I c: 210-823-5568
7701 Broadway, Ste 104 I San Antonio, TX 78209
Tadd@MomentumGrouptx.com I www.MomentumGrouptx.com

Thank you, Tadd, for this incredible information!

Why Should I Invest in Flood Insurance?

Is there anything worse than undergoing a natural disaster? Perhaps there is, but dealing with the aftermath of a natural calamity is never child play. Floods are one of the most common disasters in the US. And boy, when floods strike, most residents are left counting losses upon losses. 

Given that floods are ubiquitous in the US, you might wonder how you can protect yourself. While arming yourself with precautionary tips during floods is superb, flood insurance coverage ensures that your home is livable even after floods damage.

Still not convinced why you should invest in flood insurance? Ellis Insurance Agency of San Antonio, TX, shares more reasons.

It may be required

While Texas doesn’t require residents to purchase flood insurance, your lender may insist you purchase coverage if you live in a flood plain area. And even if your property is in a low flood-risk area, your lender may still require you to invest in flood insurance. But whether flood insurance is compulsory or not, you need it. 

Home insurance doesn’t cover floods

Home insurance is an excellent investment to protect your home. Unfortunately, typical home insurance doesn’t cover flood damage. As a result, you require flood insurance from private insurers or the National Flood Insurance Program (NFIP) to protect your home against floods.

Floods can strike anywhere

According to FEMA, there is a 26% chance that you will experience floods at some point during a 30-year mortgage period! Floods can strike anywhere, and sometimes without warning. The only way you can be safe is by purchasing flood insurance.

Flood insurance in San Antonio, TX

If it rains, floods can strike anytime and anywhere. And even if you live in a low-risk area, you are not entirely safe. About 20% of flood insurance claims come from residents living outside high-risk areas! Are you ready to get started with flood insurance? Contact Ellis Insurance Agency today.