When Do Homeowners Need Flood Insurance?

Flood insurance isn’t something that every homeowner in Illinois needs, but it’s essential to have the coverage if your house requires it. Standard homeowners’ policies normally don’t cover flooding. Here’s when homeowners typically need a flood insurance policy.

Living in a High-Risk Flood Zone

The most obvious time when flood insurance is essential is when you live in an area designated as a high-risk flood zone. These zones are identified by the Federal Emergency Management Agency (FEMA) and are areas where floods occur most often (and often most severely). 

FEMA publishes maps that show what parts of Illinois are in a high-risk zone. We at Green Family Insurance Inc. can help you check these maps to see if you’re in a zone deemed high-risk. If you are in a high-risk zone, certainly consider getting a flood policy.

Having a Mortgage from a Federally Regulated Lender

If your home is in a high-risk flood zone and you have a mortgage from a federally regulated or insured lender, you’re probably required by law to have flood insurance. This requirement helps protect the investment of both the homeowner and the lender. 

After Experiencing a Flood

Even if you’re not in a designated high-risk area, your house could still flood. If you’ve gone through a minor flood, or if you just want extra protection, flood insurance could help you should a bigger flood ever occur.

Green Family Insurance Inc Is Here To Help

If you have a house in Illinois, contact us at Green Family Insurance Inc. One of our knowledgeable agents can work with you to assess whether flood insurance is required and get you a policy should you need or want one.

Three things that might surprise you about flood insurance

Flood insurance is an important type of insurance that many homeowners need. If you own a home in Illinois, you need to consider whether you need to purchase flood insurance for your home. We can help you meet your flood insurance needs at Green Family Insurance Inc.

The following are three things to be aware of that might surprise you about flood insurance:

Typical home insurance policies don’t offer any coverage for flood damage.

Some homeowners don’t realize that they can’t meet their flood insurance needs by simply buying home insurance. Flood insurance is important because flood insurance is not included in standard home insurance policies.

You need to purchase flood insurance specifically if you want to make sure that your home is covered for damage caused by flooding in your area. 

Flood insurance is required by mortgage lenders in some cases.

It’s not uncommon for homeowners to be required to purchase flood insurance. Mortgage lenders that finance homes that are located in flood zones typically require borrowers to carry flood insurance in order to be approved for a home loan. 

Flood zone maps aren’t always accurate at predicting whether a particular area will end up experiencing a flood. 

While flood zone maps can help give you an idea of what your flood risk is, it’s important to realize that your home could experience flood damage even if it is not in a flood zone. 

Reach Out To Us

Are you ready to purchase flood insurance for your home in Illinois? Get in touch with us at Green Family Insurance Inc. We can provide you with a quote on a flood insurance policy that will protect your property and your finances. 

What Homeowners Need To Know About Flood Insurance

Your home is probably one of your biggest investments. Protecting your home against unforeseen disasters is crucial to your family’s financial stability and security. At Green Family Insurance Inc, serving Illinois, we make it easy for you to choose insurance products with confidence. If you are looking for information on flood insurance, we are here to help. 

Is Flood Insurance Included in Home Insurance?

This is an important question. Many homeowners assume that flood insurance coverage is included in their homeowner’s policy. In most cases, flood insurance is an entirely separate type of insurance product. It is important to read your home insurance policy carefully. If flood insurance is not included, it may be wise to add this coverage. 

Why Is Flood Insurance Not Included?

Flood insurance coverage amounts are determined based on very specific flood risks. These flood risks can vary greatly from one area to another. This is why it is very difficult to create a one size fits all type of insurance coverage to bundle into a home insurance policy. 

How Do I Add Flood Insurance?

If you are interested in adding flood insurance, the first thing you should do is contact your current home insurance company. In many cases, your home insurance provider will be able to guide you on the steps needed to add flood coverage to your existing policy. 

An insurance representative will most likely need to evaluate your property to ensure you get the right type of coverage. Each property will be different so it is important that your property be evaluated. 

If you would like to learn more about our services, please contact us at Green Family Insurance Inc. serving Illinois. We will be happy to answer your questions concerning flood insurance or any other insurance products. 

6 Important Flood Insurance Questions to Ask Your Agent

When you live in a flood-prone area, it’s often required by your home’s lender for you to have flood insurance. If you don’t have a lender, you don’t have to have the coverage, but it’s still an excellent idea to make sure you’re adequately protected from harm. If you’re in Illinois, Green Family Insurance Inc. is the company to contact to make sure you have the insurance policies that will give you the kind of protection you’re looking for.

Then you’ll have what you need to be safe and secure, and you’ll be able to enjoy the beauty of the area. Some of the biggest questions to ask about insurance to cover floods are:

  • What kind of insurance do you need beyond the standard homeowner’s policy?
  • Should you still get this insurance if you’re not in a flood-prone area?
  • Who should you contact if you want to review or make changes to your policy?
  • What should your agent know about your home or location?
  • Are there any extenuating circumstances or issues that won’t be covered by a flood policy?
  • Who should you reach out to if you have more questions to ask about flood policies?

When you’re in Illinois, and you need flood insurance, Green Family Insurance Inc. is the place to go. Contact us today, and let’s talk about the kind of policy and coverage level that would be right for your needs. There are many different choices to consider for basic insurance policies on your home, but flood policies don’t come with as many options. Still, you’ll likely have questions, and we want to help answer them. You can get the answers you’re looking for when you work with a strong company and dedicated agents like ours so that you can have a good policy and peace of mind.