Floods can occur anywhere, anytime in Columbia, MD. They often happen without warning, but if you don’t live near a river, stream, or similar body of water, do you really need flood insurance coverage? HBW Insurance Group can recommend coverage to keep your home or business property insured if floodwaters damage it.

Flood Insurance Required by Many Mortgage Brokers

If your home is in a floodplain, your mortgage broker may require you to buy flood insurance as part of your loan’s terms. Designated flood plains are widespread, and flood insurance is a must in these areas, even if your loan doesn’t require it. Your homeowner’s insurance will only cover water damage from a natural event if water enters your home from the sky. Additionally, you can’t count on federal aid from FEMA (Federal Emergency Management Agency), as a presidential action declaring a natural disaster must occur. Usually, flooding events don’t qualify for natural disaster coverage.

Flooding is Expected to Increase

As storm severity increases, flooding is expected to increase. To compound matters, the Federal floodplain map is outdated. Federal officials indicate that many people are at risk of flooding without realizing it. Other events can occur, too. For example, your basement may flood due to a sewer backup. Sump pumps can also fail through clogs or frozen discharge pipes in winter. In these instances, homeowner’s insurance will not cover the damage. You must have a flood insurance rider on your policy to receive compensation for damage from flooding events caused by rain or plumbing-related events.

If you are unsure how much flood insurance you need in Columbia, MD, and how to get it, HBW Insurance Group is here to help. Contact our office today to get started on your policy.