What happens if I don’t have flood insurance?

If you own a home in the Virginia Beach, VA area, it is very important that you have proper insurance coverage in place. One of the best forms of insurance that you need to have in this area is flood insurance. When you have flood insurance, it will provide you with valuable protection against the significant damage that can be caused by a flood. However, if you do not have flood insurance, a variety of issues could arise. 

No Coverage for Damage

If you are in the Virginia Beach, VA area and do not have a flood insurance policy in place, will likely not have coverage for damage that occurs to your home. Due to its proximity to the ocean and higher-risk flood designation, those that are in Virginia Beach likely will not have any flood coverage from their base home insurance policy. Without a flood insurance policy, you may not receive reimbursement for this damage. 

Ensures Loan Compliance

If you live in a high-risk zone, there is a good chance that you will need to have flood insurance in place. This is especially true if you have a loan that is guaranteed by the FHA. In these situations, there are plenty of specific requirements that need to be met. If you do not have the right flood insurance policy in place at all times, you could be in violation of your loan agreement. 

When you are shopping for flood insurance, a great place to start your search is at Insurance Shopper VA. When you purchase insurance from Insurance Shopper, VA you will get the support you need to get the right flood insurance policy. This will help to ensure that you get the right coverage and stay in compliance with all of your loan agreements.