7 Reasons You Need Flood Insurance

Dated: 08/29/2015

Views: 537

Flooded streetYou’ve bought your new home, decorated each room and picked up a great quote on home insurance. Now, it’s time to relax, right? Not so fast.

There’s a good chance you might need to consider flood insurance for your new investment. Or maybe you’ve lived in your home for years and never realized that GEICO can help you secure this essential protection. Even if you’re not living by a coast or a river, your home could still be located in an area susceptible to flooding.

If you’re interested in a better understanding of it, these facts from FloodSmart.govshed light on why flood insurance is an incredibly important coverage:

  1. Flooding is the number one natural disaster in the U.S.

  2. Over the past five years, 75% of all federally declared disasters involved flooding.

  3. Everyone lives in a flood zone. Even if your mortgage company doesn’t require you to have flood insurance, you are still at risk.

  4. Over the past five years, 25% of all flood claims occurred outside of designated high-risk areas.

  5. Your standard homeowner’s policy does not cover flood damage.

  6. The average flood costs a consumer $55,000.

  7. Don’t wait until a storm is approaching: it takes 30 days for flood policy to take effect.

For more information on how GEICO can help you with flood insurance, visitgeico.com/information/aboutinsurance/flood.

Reprinted fro Geico.com

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