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Answering Questions about Flood Insurance for Homeowners

26 May by 5280 Insurance

Homeowners have to face plenty of worries, whether it’s sudden accidents or natural disasters. For the latter, there are plenty of flood-prone zones that can really lay water damage on your home no matter how much you don’t want it to. It’s an unfortunate reality, but one that you can protect against by investing in flood insurance.

Continue reading for some answers to common questions about flood insurance for homeowners.

What Is Flood Insurance for Homeowners?

Flood insurance is a fairly common type of home insurance that people invest in to protect themselves from the elements, namely water. That’s because a flood can be brought on by a variety of causes: anything from a simple rainstorm to the result of flash flooding can cause water damage to your property and leave your home looking like a total disaster.

How Different Is Flood Insurance to Home Insurance?

Flood insurance is a great extension that covers whatever policies home insurance isn’t responsible for. For example, the rising tide of water amid rain showers is a common risk for homeowners. Unfortunately, home insurance may not provide financial protection if any claims are made due to that. It can only be protected against only through flood insurance.

Is Flood Insurance for Homeowners Required?

There are certain local regulations in other states that make flood insurance mandatory. However, flood insurance isn’t required in certain states, but it’s a great way to legally protect yourself and your home. If you get a claim and are denied coverage under your home insurance, you will be able to get financial protection through flood insurance.

What Costs Can Flood Insurance Cover?

Your home is your biggest investment, and you don’t want to see it demolished by a flood. Flood insurance is a great way to get financial protection against the risk of water damage. It can cover repairs, rebuilding, and replacement as well as other costs, from the cost of temporary rental housing to the loss of your home’s contents.

What Are Flood Insurance Rates Based On?

Your flood insurance rates can be based on a wide variety of factors, and it’s important to clarify this with your provider first to know how much you’re going to cover. Here are some examples of the factors that flood insurance rates are based on:

  • Building Occupancy. How many people are living in a building can influence what the flood insurance rate figures will look like. It is much safer to invest in flood insurance if there are plenty of people staying on the property.
  • Building Age. The age of the building and its structure can also affect the flood insurance rates. This is one of the most important factors that can increase the rates, especially for older buildings. In contrast, a new building would equate to lower rates.
  • Number of Floors. The number of floors can also affect the rates, especially if they are higher than the average. This can create many problems if water starts to seep in, especially at higher levels.
  • Flood Zone Type. Flood zones can have a wide variety of characteristics, and it’s important to get the right coverage. For example, a flood zone in a river may be very different from one on a coastline or at a watershed.


Investing in a flood insurance policy is a great way to ensure that you’re covered against a natural tragedy like a flood. You can rest easy whenever certain weather events where the rain pours come and go.

In need of homeowner flood insurance? 5280 Insurance offers flood insurance, auto insurance, home insurance and all sorts of financial protection. Get in touch with us now!

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