Flooding and water damage cost thousands of dollars annually to homeowners and billions to insurance companies. These are among the top causes for a homeowner to file insurance claims, with floods listed as the most common natural disaster in the United States, according toFloodSmart.gov.
To protect your home from water damage, it's essential to identify the potential risks for flooding.
Many homeowners mistakenly believe that they don't need flood insurance due to where they are located or because they've never experienced a flood before. As 2016 demonstrated, nothing could be further from the truth.
|Natural floods vs. other types of flooding
Most homeowners insurance policies do not cover flooding from a natural disaster. Any seepage or rush of water entering a home as a result of a natural disaster is a natural flood. This may be water from a flash flood when a nearby river overflows its banks or a levee breaks. Seasonal storms can cause inland flooding in some areas, hitting homes and producing significant damage.
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