Flood Insurance in Texas

Why You Should Have Flood Insurance in Texas

Floods are one of the most common and costly natural disasters and have been known to cause millions of dollars in damage yearly. Renters and homeowner’s insurance in San Antonio, TX won’t cover flood damage. While you may think you don’t need flood insurance because you aren’t in a high-risk area, floods can happen anywhere. There are about 20% of claims that come from properties that aren’t considered to be in a high-risk zone. Wildfires have dramatically changed the landscape in the past years, and it can lead to more flooding. Flood insurance will pay regardless of if there is a Presidential Disaster Declaration. Other disaster aid will usually be in the form of a low-interest loan that you must pay back. Flood insurance will often provide more funds for recovery than other options and you won’t have to pay the money back. You could also be required to have flood insurance if you have a property with a mortgage located in a high-risk area. Even if your property isn’t in a high-risk area, it's up to your mortgage lender if it’s required.

What Is Covered for Flood Insurance in Texas?

There will be maximum coverage limits for your home and its structure. Your home’s structure is covered up to $250,000 and your contents are covered for $100,000 when you purchase a policy from the National Flood Insurance Program (NFIP). You can get larger policies through a private insurance company such as Ellis Insurance Agency. If you are a renter, your landlord’s insurance should cover the structure and you should have your own insurance for the contents.

A policy from the NFIP will cover standard home systems such as the furnace, carpeting and installed floors, appliances and personal property, foundation, and detached garage. There can also be several exclusions. For example, damage occurring to the basement or property in the basement will not be covered. In some cases, flooding damage that is caused by a sewer backup isn’t covered.

Contact Ellis Insurance Agency, serving San Antonio, TX, to get a quote on flood insurance.