Flood Insurance Texas
Flood insurance in Texas is available to homeowners, renters, condo owners, and commercial property owners. Costs vary depending on how much insurance is purchased, what it covers and the property’s flood risk.
All policy forms provide coverage for buildings and contents. However, you might want to discuss insuring personal property with your agent, since contents coverage is optional. Typically, there’s a 30-day waiting period from date of purchase before your policy goes into effect. That means now is the best time to buy flood insurance. Remember just a few inches of water can cause tens of thousands of dollars.
Do I really need flood insurance in Texas?
(713) 955-3099
If what I live in a low risk flood zone. The answer is YES. Even though flood insurance isn’t federally required, anyone can be financially vulnerable to floods.
(NFIP) National Flood Insurance Program
In fact, people outside of mapped high-risk flood areas file over 20-percent of all National Flood Insurance Program flood insurance claims and receive one-third of Federal Disaster Assistance for flooding. When it’s available, disaster assistance is typically a loan you must repay with interest. A Preferred Risk Policy provides both building and contents coverage for properties in moderate- to low-risk areas for one low-price.
SO WHAT’S COVERED?
DALLAS
BUILDING PROPERTY
The insured building and its foundation, electrical and plumbing systems, central air conditioning equipment, furnaces and water heaters, refrigerators, cooking stoves and built-in appliances such as dishwashers, permanently installed carpeting over unfinished flooring, permanently installed paneling, wallboard, bookcases and cabinets, window blinds, detached garages (up to 10 percent of building property coverage); detached buildings (other than garages) require a separate building property policy, debris removal.
AUSTIN
PERSONAL CONTENTS PROPERTY
Personal belongings, curtains, portable and window air conditioners, portable microwave ovens and portable dishwashers, carpets that are not included in building coverage, clothing washers and, dryers, food freezers and the food in them, certain valuable items.
HOUSTON
WHAT’S NOT COVERED IN A FLOOD
Damage caused by moisture, mildew or mold, currency, precious metals and valuable papers, property and belongings outside of an insured, living expenses such as temporary housing, financial losses caused by business interruption, most self-propelled vehicles such as cars.
Texas Flood Insurance
FLOOD INSURANCE FOR BASEMENTS AND AREAS BELOW THE LOWEST ELEVATED FLOOR
SAN ANTONIO
Coverage is limited in basements regardless of zone or date of construction. It’s also limited in areas below the lowest elevated floor, depending on the flood zone and date of construction.
These areas include: basements, crawl spaces under an elevated building, enclosed areas beneath buildings elevated on full-story foundation walls that are sometimes referred to as “walkout basements”, enclosed areas under other types of elevated buildings.
Hopefully, you found this information useful. Remember, flood insurance is not included in your homeowners policy. If you have questions please contact us. We are a full service agency that can provide quotes for personal and commercial needs.
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