There have been many changes to flood insurance in the past 2 years. Some more were just instituted last month. Have you kept up to date to see if you will be affected when its time to renew? As of April 1st, 2015 new changes were made to flood insurance where for some this will result in lower rates and more affordable insurance, for others though, the cost will be going up. These are important changes to know for your current insurance and new insurance if you are looking to purchase a new home that may be in a flood zone. If you are buying a new home check this list for some questions you should ask before making your final decision.
If you do not live in an area that is considered a flood zone you are not required (in most cases) to obtain flood insurance. This is never recommended though. At any time a pipe could burst and cause massive destruction to your home. Most people are not aware that your homeowners insurance policy does not include damages caused by flooding. This is a separate policy you need to obtain. If you are not in a flood zone your policy will most likely not be very costly, the destruction caused by water damage is.
How you reviewed your policies lately? We encourage you to do so. If you have any questions please call us at 813.876.4166
Also, check out this quiz and test your flood insurance knowledge. Post your answers in the comments to be entered in our summer drawing.