While you probably have a Connecticut insurance policy or your home, it likely does not include protection from flood damage. As such, you might wonder whether you need to add flood coverage to your policy. To determine whether you should purchase flood insurance, think about the following questions.
Does Your Lender Require Coverage?
Since disasters occur all the time, your mortgage lender requires you to obtain homeowner’s insurance to protect its investment. While most companies do not require flood insurance, some do – particularly for houses located in flood plains. Check with your lender to see if flood coverage is mandatory.
Is Your Home at Risk?
If your home is at risk of flooding, you probably want to purchase flood coverage. Perhaps the best way to understand your house’s vulnerabilities is to use the flood risk tool located on FEMA’s website. By inputting your address, you can see if the federal government thinks your home is susceptible to water damage. If you aren’t comfortable leaving the assessment to an algorithm, the following might help you analyze your home’s risks:
- Consider past floods
- Inspect flood maps
- Obtain a professional opinion
Does Your Agent Recommend It?
By working with an experienced Connecticut insurance agent, you have access to professional information and advice. If your agent recommends flood coverage, you should consider purchasing a policy that protects against water damage.
While deciding whether to purchase flood insurance is usually ultimately up to you, you might think about including water protection in your policy if you answered yes to any of these questions.