If you buy a home in an area of Illinois that is prone to flooding, your mortgage lender will likely require you to purchase flood insurance in addition to your standard home insurance policy. However, this does not mean flood insurance is unnecessary if your home is located outside a designated flood zone.
FEMA Maps Are Not Always Accurate
Mortgage lenders determine flood insurance requirements based on FEMA flood maps. While these maps are helpful, they are not updated in real time and may not always reflect current conditions. Climate change has increased the frequency of unexpected weather events, and new construction can change how water flows through your community. As a result, homes located outside high-risk flood zones can and do experience flooding.
Floods Cause Significant Damage
Flooding is a powerful force that can cause extensive structural damage. Prolonged exposure to water can lead to foundation cracks, and flooring or insulation may need to be replaced due to warping or rot. Mold and mildew can spread quickly, especially during warm and humid weather. Without flood insurance, homeowners may be responsible for thousands of dollars in repairs.
Need Flood Insurance? Call Our Team at Green Family Insurance Inc. Today
Do not wait until severe weather is in the forecast. Flood insurance cannot be purchased when a flood event is imminent, and most policies do not take effect until 30 days after purchase. Contact Green Family Insurance Inc. today to learn more about your coverage options or to request price quotes. Our team is proud to help Illinois homeowners find reliable home insurance policies and policy bundles.
