Flooding is the number one disaster in Virginia. Unfortunately, when floods strike, your typical home insurance won’t save you because flood damage isn’t covered by home insurance. Wondering whether you need flood insurance in Virginia Beach, VA? Keep reading as Insurance Shopper VA sheds light on persons that need flood insurance.
If you have a mortgage
If you have secured a mortgage from a federal-regulated financial institution, your lender might require you to invest in flood insurance if you live in a flood risk area. Even if you don’t live in a high-risk flood area, your lender may still insist you invest in flood insurance. So be sure to read out your loan agreement to understand the requirements beforehand.
If you value your home
If you love your home, you better invest in flood insurance since flood damage can be expensive. A one-inch rise in water level can cost repairs worth $25,000! If the floods are pretty significant, it could cost you quite a fortune to repair your home.
Because it has cost you a lot of time and money to bring up your home, it makes sense to secure it with everything you got. Home insurance is okay, but it can only do so much against floods. For that reason, you need to invest in flood insurance to protect your high-priced asset.
If you need peace of mind
Want to live a worry-free life? One of the best ways is to invest in flood insurance to keep you from worrying about risks like floods.
Buy flood insurance today!
Since floods can strike anywhere, everyone with a home needs flood insurance. Want to get coverage in Virginia Beach, VA? Please get in touch with Insurance Shopper VA for an affordable quote.