As the Atlantic hurricane season begins, a new survey commissioned by National Flood Services reveals that 62 percent of homeowners across the United States say they are prepared for flood, but only 12 percent of them have flood insurance. The poll also found that half of respondents are less interested in buying insurance because of COVID-19, which has put millions of Americans out of work and caused a historic economic recession.
Other surveys show that 80 percent of Texas homeowners, 60 percent of Florida homeowners, and 99 percent of Puerto Rico homeowners don’t have flood insurance, even as these areas continue to be inundated with tropical storm–related flooding. Many Americans erroneously believe they do not need flood insurance, and 21 states do not require real estate agents and home sellers to tell buyers when a home is in a federally designated flood zone that requires flood insurance.
Many would be surprised to learn that flood insurance is NOT expensive. Just because you don’t live in a designated flood zone doesn’t mean that you can’t be affected by flood waters.
If you would like more information about how to protect your home and belongings from being destroyed in a flood, call us. We’d be glad to help.