Insurance

Flood Insurance for Renters: What You Need to Know to Stay Protected

Stay Protected

Did you know that there were almost 60 flood fatalities last year in La Crosse, Wisconsin alone?

With climate change, floods will get more and more destructive no matter where you live. This is why it’s so important to make sure you’re covered in the event of a disaster.

Are you wondering how you can protect yourself from a flood? Keep reading to learn all about flood insurance for renters.

1. What Is It?

Have you ever asked a friend or family member, “Do I need flood insurance?”

Even if your renting, you still have a place full of your personal belongings. These can be damaged by all kinds of flood disasters, such as major storms, breached dams, or even snow that has accumulated and begins to melt.

Flood insurance can protect you from these types of disasters. However, they won’t cover water-related problems that happen within the apartment, such as a burst or leaky pipe.

2. Why Get It?

You’ll be glad to know that reliable flood insurance can cover most if not all of your personal belongings. If these get damaged or swept away by a flood, then you’ll be able to file a claim.

Simply put, whatever insurance your landlord has won’t extend to your personal items. Without flood insurance for renters, you’ll be leaving yourself vulnerable.

3. Assess Your Risk

While it’s important for people to get flood insurance in general, you especially need protection if you live in or near flood zones. If you search Google for an official flood map, you’ll be able to determine the risk of a flood occurring within your area.

Aside from low to medium risk areas, there are also places referred to as Special Flood Hazard Areas. These have the highest risks and will result in more expensive coverage from month to month. Don’t forget to learn about flood zone AE.

4. Renter’s Insurance Isn’t Enough

As you consider flood zones and flood insurance, don’t forget that your renter’s insurance will not protect you in the event of a flood.

While renter’s insurance can protect your personal property, it doesn’t extend further than theft and other kinds of damages.

5. Don’t Expect FEMA Help

Another reason why renter’s flood insurance is so essential is that FEMA can’t be relied upon during every flood. FEMA relief only occurs once the president has declared an environmental emergency.

If this does happen, then you’ll have to apply for FEMA funds, which can be a headache-inducing process.

Ready to Get Flood Insurance for Renters?

Now that you’ve learned all about flood insurance for renters, you can have peace of mind knowing that you’ll be protected in the event of a disaster. No one should have to live in fear of large floods.

There’s always more to do when it comes to making your home safe and cozy. For all the latest news relating to real estate and so much more, look no further than our website. Don’t forget to bookmark us and visit on a regular basis.

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