The Drew Ritchie Agency: What to know about flood insurance

Flood Insurance probably isn’t something you take the time to stop and think about, especially if you live in a landlocked state, hundreds of miles from the nearest ocean. But floods can happen anywhere, and 87% of homeowners don’t have flood insurance. Most people don’t consider it until there home is knee deep in water from a, particularly bad storm. Needless to say, that’s not the best time to start considering flood insurance.

During the spring of 2015 we hit a record amount of rainfall here in Oklahoma. People started thinking about flood insurance then because it became apparent Oklahoma might see some floods. There were floods, and some people waited until it was too late. Many people simply don’t understand flood insurance and there are a few common myths we’re here to dispel today.

Myth # 1: There is no need for flood insurance unless your home is in a flood-zone.

You may think your safe from a flood if you don’t live in a flood zone, but this thought process puts many homeowners at risk! Just because you haven’t been hit by a flood before that doesn’t mean it can’t happen. Melting snow and heavy rainfall are insidious culprits when it comes to starting floods where there normally aren’t.

Myth # 2: Your Homeowners insurance policy will cover flood damage.

Truth be told, most typical homeowners insurance policies won’t cover all forms of water damage. You might be covered if a pipe bursts, but floods are another matter entirely and generally not covered. Make sure you review your policy so you understand what’s covered and what isn’t.

Our Enid insurance team members can help you:

• Evaluate your property’s flood risk.
• Find out which flood insurance policies you’re eligible for.
• Get covered the way you want.
• Make an informed decision on flood insurance and understand what it covers.

Someone at The Drew Ritchie Agency would be happy to help you look at your Farmers insurance options. Don’t hesitate to stop by and see us!