More and more families in Illinois are discovering the benefits of flood insurance. At Green Family Insurance Inc., we’ve seen increased inquiries about flood insurance due to climate change, rising waters, and even commercial and residential development.
As we answered these questions, we recognized some misperceptions about this valuable protection. Here are four common misperceptions about flood insurance.
Misperception 1: I probably have flood insurance if I have homeowners insurance.
This may be the biggest misperception about flood insurance. Most basic home insurance policies do not cover floods. They need to be covered by a separate flood insurance policy, most frequently managed by the National Flood Insurance Program.
Misperception 2: Flood insurance will cover damage from backed-up drains or broken water pipes.
Flood insurance is intended to cover damage from rising outside waters. It will not cover damage from rain through a leaking roof or backed-up plumbing.
Misperception 3: Flood insurance is required by lenders.
While this may be true for homes located in flood zones or coastal areas, mortgage companies in Illinois rarely require flood insurance.
Misperception 4: If I don’t live in a flood zone, I should not explore the need for flood insurance.
Flooding can occur throughout most parts of the country. Flood zones and flood-prone areas are changing, so it is worth researching.
Contact Green Family Insurance Inc. to learn more.
To learn more about flood insurance in Illinois, we encourage you to contact us at Green Family Insurance Inc. It is better to get your questions answered and get a quote to put your family’s home in jeopardy from flooding. We will be happy to assist you.
