Flood Insurance in Texas

Do You Need Flood Insurance in Texas?

If it can rain, then it can flood. Your home insurance policy won’t cover flood damage, so you need to make sure your property is covered with a separate flood policy in Austin, TX or anywhere in the state.

If you have a home that is in a designated flood zone, then you are required to have flood insurance by your lender. In a flood zone, there is a one percent chance of being flooded in any year. However, just because you may not be in a designated flood zone does not mean you are safe. Floods can happen at any time anywhere, and homes in Texas are particularly prone to floods. Flood maps can even be hard to keep up to date since growth adds to flood risk. Pastures and prairies absorb the moisture from storms, and when that land is then replaced by asphalt and concrete, there is a risk for a flood where there wasn’t before. Even if disaster relief is available, and it’s not always, it isn’t always enough to cover everything, and it is in the form of a low-interest loan that you have to pay back.

Getting Flood Insurance in Texas

If your property is located in an NFIP participating community, you can get a flood insurance policy. Contact an agent at Armadillo Insurance Agency to see if your community participates. The average policy costs will depend on the value of your home, the amount of the deductible, and your flood risk. If you are a homeowner, you can get insurance for both your property and your belongings, and if you are a renter, you can get insurance for your belongings. There are two separate policies. One will cover your home up to $250,000, and the other will insure belongings with protection up to $100,000. Most policies have a 30-day waiting period before coverage kicks in, so be sure to get coverage before you need it.

Contact Armadillo Insurance Agency in Austin, TX to get a quote on flood insurance.