Do You Need Flood Insurance?
Did you know that homeowners and renters insurance policies typically do not cover flood damage? Many of us may now be wondering if it is a good idea to be insured for flooding as well. Well, according to Ohio.gov, 98% of US counties have been impacted by flooding events. Once water damage has set in, it can easily set off a domino effect of expensive and hazardous problems. There are many things that can be done to reduce the risk of having your home damaged by flooding. For example, make sure your sump pump is working correctly, store critical documents in a safe, dry location, and always have a plan in place for the swift evacuation of family members and pets. You can also check the FEMA (federal emergency management agency) to see if your address is in a flood zone, which will show your home’s risk level for flooding, and any nearby waterways that may present a threat.
In 2010, federal officials expanded flood plain maps, making it necessary for many more Ohio residents to have flood insurance than ever before. This has caused concern about additional bills, but the cost of repairing damage from flooding is extensive, and liability flood insurance for low-risk homes can be as low as $135 a year. While any additional cost is a burden on working-class families, it is always a good idea to defend ourselves against the larger cost of sudden disasters.
Flooding is the most expensive natural hazard in the nation. Because Ohio rests in the middle of the row on the occurrence of natural disasters, however, there is a low likelihood of experiencing heavy damage to your home. This is also the reason why insurance costs for disasters caused by nature are relatively low in our area; in fact $350 lower than the national average. In the end, a little research and some knowhow may offer insight into the best options for making sure our homes stay safe and secure.