What Are the Differences Between House Insurance and Flood Insurance

Posted on: December 21, 2014 | By: Michael T. | Flood Insurance And Homeowners insurance coverage

Flood Insurance And Homeowners insurance coverage

What Are the Differences Between House Insurance and Flood Insurance?

Purchasing a new home is an exciting time, but there are several considerations that each new property owner faces. These include planning for natural disasters, setting a budget for repairs and developing a maintenance schedule. One of the most important steps when buying a home—one that often goes overlooked—is purchasing insurance.

There are several types of insurance for homeowners, but they all have the same basic purpose: to prevent property owners from falling into financial ruin after an unexpected disaster. Floods, for example, can cause thousands of dollars in damages. What many homeowners do not understand, however, is that flood insurance and homeowner’s insurance are not one and the same. Generally, you must purchase each as separate policies.

House Insurance: What Does It Cover?

To start, many homeowners should be familiar with what regular house insurance covers. Although this article will provide some insight into the main aspects of house insurance, it is always best to discuss your particular property with a professional. For expert guidance, call Allied Restoration Company at (415) 529-5637.

When a home suffers damage from massive storms, house insurance usually will provide financial relief. This is true if the home falls victim to a lightning strike, hail or strong winds. Typically, home insurance also covers acts of theft and vandalism.

According to Bankrate.com, it is important that homeowners understand the limits of house insurance. These policies may not cover damage from earthquakes, sinkholes, floods and termites. You can purchase policies that cover these hazards, but because they generally occur in specific regions, they aren’t necessary for all homeowners. Flood damage, however, is a universal threat to virtually everyone.

Why Should I Invest in Flood Insurance?

Standing water is not the only danger from floods. Threats like mold, dry rot and weakened structural integrity are all potential risks. Also, the water pressure may put the plumbing system under stress, which may cause pipes to burst. This may result in expensive repairs, but flood insurance can help alleviate much of the financial burden.

Flood insurance plans are smart investments for almost every homeowner. This is especially true in high-risk areas, but even homeowners in low-risk areas would be wise to prepare for the worst.

If you want to know if your area is in a high-risk flood zone, contact Allied Restoration Company. We can also help you find a competitively priced flood insurance plan. If the worst does happen, give us a call at (415) 529-5637 for all of your flood repair needs.