PO Box 722
Taylor, TX 76574
(By Appt) 700 Lavaca Street, Ste #1400
Austin, TX 78701
Owning a home is a very substantial investment. Because of this, you need to make sure that your property is covered by insurance. While most people know that they need to have homeowner’s insurance on their property, there are other situations in which additional coverage is necessary. For those that are in Texas, one type of insurance coverage that could be necessary is flood insurance. In many situations, a standard home insurance policy will not provide coverage for flood damage and getting the additional type of insurance on your policy could be a requirement. Several factors could help to determine whether flood insurance is a necessity for you.
Location of Home
The most significant factor that will determine whether you should have flood insurance on your property is the location of your home. FEMA manages a flood map program that will designate whether your home is located in a flood zone. If you happen to live in certain areas that are considered higher flood risks, having flood insurance in place on your property could be a requirement.
If your home is located in an area that is more prone to flood risks, your mortgage lender may require that you carry flood insurance at all times. If you have a mortgage that is ultimately secured by FHA, the lender will undoubtedly require that you have flood insurance and will also make sure that you escrow for it each month. This will then ensure you have protection if your home is damaged by flood waters.
If you are in the Austin, TX area and want to understand better whether or not you should have flood insurance, meeting with the team at Austinite Insurance Agency LLC could be a perfect option. Austinite Insurance Agency LLC in Austin, TX will be able to review your personal situation and figure out whether you should have flood insurance on your property. Contact us for a quote.