Real Estate and Flood Insurance

Floods can do horrendous amounts of damage to real estate. It can shake a home from the foundation, it can remove landscaping, and it can damage the home itself, and destroy the insides of the home. Many people feel that just because they do not live near a body of water, that they are safe from flooding. It is truly unfortunate that these people are wrong and will often not know it until it is too late.

It is also truly unfortunate that home owner’s insurance does not cover floods, and that one is required to get flood insurance to protect against floods and often do not know this either.

Floods can occur anywhere. All that needs to happen is to have a heavy rainfall either at the location of the flood or somewhere of higher elevation than the flooded area. Under every soil is bedrock. This bedrock does not allow water through it and aids in the run off process. If the bedrock becomes indented with water too fast for it to run off, the result is flooding. Even a few inches of water can ruin flooring, walls, carpeting, and do serious electrical damage to a home.

Due to the high amount of damage that even a little water can do to a home, most home insurance companies do not sell flood insurance with their home owner’s insurance policies, but rather require a separate fee for it. Many mortgage companies require those who are purchasing real estate to purchase both home owner’s and flood insurance to protect their investments.

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