Flooding is the most common natural disaster in the United States, even outside of designated flood zones. In fact, in the past five years, all 50 states have experienced floods.
We’ve seen an increased number of named storms hit the Northeast in recent years, but it doesn’t take much water to cause thousands of dollars in damage to a home – damage that isn’t covered by a standard homeowners policy.
Although many homeowners may not be aware of the importance of flood insurance, this coverage can safeguard their investment and protect their belongings.
According to FEMA, the annual cost for a flood insurance policy for a single-family home in the U.S. hovers around $1000. This may be important to consider when reviewing one’s budget and expectations of homeownership.
If you have any questions or need further assistance, please feel free to reach out to one of our knowledgeable advisors.