When buying flood insurance, you must first understand what this type of insurance is and exactly what it covers. Many myths are floating around that can cause some confusion as to what flood insurance covers and who should purchase a policy. Those in Pittsburgh, PA, with questions about flood insurance, can reach out to the agents at Daniel Carinici Agency LLC for assistance.
Below are some common myths about flood insurance and the truth behind each one:
Myth: I am not in a flood zone, so I do not need flood insurance.
Fact: Because a flood can happen any time anywhere, every property is essentially in a flood zone. Each home is placed in a flood zone rated from low to moderate risk, high-risk, and high-risk coastal. Some properties are listed as undetermined for their flood risk, but that does not mean they are not at risk.
Myth: My homeowner’s insurance will cover any damage caused by a flood.
Fact: Basic homeowners insurance policies do not provide coverage for damage or losses associated with a flood.
Myth: Flood insurance is not mandatory, so I do not need it.
Truth: Flooding is the most common natural disaster event that affects many properties across the country. Though flood insurance is not required, your home and your belongings are not covered by your homeowner’s insurance policy in the event of a flood.
Myth: Flood insurance is expensive, and I cannot afford to purchase a policy.
Fact: The flood insurance market is growing, providing homeowners the opportunity to shop around for competitive premiums. Additionally, flood insurance can be customized, which can lower the cost of your premiums.
Those with questions about flood insurance in Pittsburgh PA should reach out to Daniel Carinici Agency LLC agents to discuss their questions and concerns about flooding.
