MYTH: MY HOMEOWNER’S POLICY WILL COVER DAMAGE CAUSED BY FLOOD.
TRUTH: Flood is not covered under standard homeowners insurance policies.
MYTH: I CAN’T AFFORD FLOOD COVERAGE.
TRUTH: Flood insurance costs as little as $129 a year – that’s less than 35 cents per day. The average flood costs a consumer $55,000.
MYTH: I DON’T NEED FLOOD INSURANCE, MY NEIGHBORHOOD NEVER FLOODS.
TRUTH: 20% of all floods occur in low-to-moderate risk neighborhoods (Neighborhoods that probably never flooded before). Just an inch of water that enters your home can cost you thousands of dollars in damage.
MYTH: I CAN PURCHASE FLOOD INSURANCE WHEN I NEED IT.
TRUTH: It takes 30 days for a flood insurance policy to take effect. Because you cannot predict floods 30 days in advance, it’s important to carry flood insurance year round.
MYTH: THE GOVERNMENT WILL PAY FOR ANY FEDERAL FLOODING DISASTERS.
TRUTH: The government will not pay for losses not covered by a flood policy.
Floods and flash floods happen in all 50 states. Since 1978, the National Flood Insurance Program has paid over $36 billion for flood insurance claims and related costs. Don’t be a victim.