The Most Common Flood Insurance Myths

Flood insurance is must-have for all homeowners, especially for those who live in the areas susceptible to flood events. Unfortunately, certain misconceptions about this type of insurance can leave homeowners at risk of substantial loss. Blanchard Insurance agency serving Altamonte Springs, FL prepared for you the list of the most common myths about flood insurance with the facts to debunk them: 

Myth 1: To Be Qualified For Flood Insurance You Have To Live in Flood-Prone Area

The truth is that anyone can purchase flood insurance for the home regardless of the location. In fact, even a property located in a low- or moderate-risk area is 5 times more likely to be flooded than be destroyed by fire in a 30-year period of time. 

Myth 2: Flood Insurance is For Homeowners Only

If you think that you need to own a house to be qualified for flood insurance, you are wrong. Flood insurance is available to everyone, including renters, who want to protect their possessions in a rented property, and even commercial property owners.

Myth 3: Flood Insurance Covers Everything

Flood insurance covers a lot of damage, but it still has its limitations. There are certain things that will not be covered: 

  • The damage caused by mold, mildew or moisture;
  • Unattached structures outside of an insured building, including patios, fences, decks, gazebos, swimming pools, and others;
  • Most motorized vehicles

It is highly recommended to discuss the limitations with an insurance agency before purchasing an insurance plan. 

If you are thinking of getting flood insurance for your house or the rented property, Blanchard Insurance serving Altamonte Springs, FL is ready to help you to make the right choice. Give us a call today to receive the answers to all your questions and the information you need.