Do I Need Flood Insurance in Texas? – Know Here

ByTX Insurance Quotes

Floods have become a leading natural disaster in the United States, causing billions of dollars in damage each year. Many states like Texas, Florida, and Louisiana are particularly susceptible to flooding due to their locations near coastlines or rivers.

While homeowners insurance in Texas covers some water damage, it typically excludes damage caused by floods. That’s why if you live in such a high-risk area, you may need to purchase a separate flood insurance policy.

So, If you’re wondering whether you need flood insurance in Texas, here’s what you need to know.

What is Flood Insurance?

Flood insurance in Brownsville is a type of policy separate from your homeowner’s insurance that helps financially protect your home and belongings from damage caused by flooding.

While homeowners insurance covers water damage from storms, it typically excludes damage caused by flooding. That’s why it’s essential for homeowners in flood-prone areas to consider purchasing a separate flood insurance policy.

What Does Flood Insurance Cover?

A typical flood insurance policy in Corpus Christi covers the following:

  • The physical structure of your home, including the walls, floors, and ceiling.

  • Detached structures on your property, such as a garage or shed

  • Your personal belongings, such as furniture and electronics

It’s crucial to remember that flood insurance has boundaries. For example, there are some items in your house and circumstances under which it won’t cover you.

Here’s a rundown of what flood insurance does not cover:

  • Damage caused by moisture, mildew, or mold that occurs before the flooding

  • Money, jewelry, and other valuables

  • Businesses or income lost due to flood damage

  • Decks and patios

  • Landscaping

  • Pools

Know Your Risk for Flooding in Texas

If you are thinking about purchasing flood insurance, you may want to consider your risk of flooding. While a flood can affect anyone, some people are at greater risk than others.

Floods are more typical in Texas than in other states, and most significant cities are located in high-risk flood zones. So if you live in Texas, it’s essential to understand the risks and whether you need flood insurance.

You’re five times more likely to suffer flood damage than fire damage, even if you live in a low- or medium-flood-risk area.

The National Flood Insurance Program (NFIP) and the Federal Emergency Management Agency (FEMA) provide information to assist residents in assessing their area overall. FEMA’s website has a flood map service center where you can input your address and determine your level of risk.

Do You Need Flood Insurance in Texas?

Flood insurance is not required by law in Texas. However, your mortgage lender may require you to have it if you’re purchasing a home in a high-risk flood zone.

Even if your mortgage lender does not require you to purchase flood insurance, it is a smart idea to have it—especially in Texas, which experiences hurricanes and tropical storms every year.

In Texas, flooding is one of the country’s leading causes of property damage, with one out of four flood losses occurring in areas that aren’t considered high-flood-risk zones. While you may not think you need flood insurance, keep in mind that it only takes a few inches of water to cause significant damage to your home.

So, the best way to determine whether you should purchase flood insurance is to consider your risk of flooding. If you live in a high-risk area, it is probably a good idea to get coverage.

Even if you don’t live in a high-risk area, it’s still worth considering—especially if you have expensive belongings or your home would be difficult to replace.

How Much Does Flood Insurance Cost in Texas?

The national average annual cost of flood insurance is $739. Flood insurance in Texas, on the other hand, has a far lower average annual cost of $624.

The expense of your flood insurance policy is determined by where your home is located and the amount of coverage you acquire. For example, a property owner with a mortgage might receive $250,000 in-building coverage and $100,000 in contents coverage.

Here are a few other factors that affect the cost of your flood insurance:

  • The age and construction of your home: Older homes tend to be less expensive to insure than newer ones.

  • Your home’s elevation: An elevated home above the base flood level will be less expensive to insure than one that is not.

  • The coverage you need: The more range you have, the more expensive your policy will be.

  • Your deductible: A higher deductible will result in a lower premium.

In Conclusion

In the United States, floods are a usual and costly natural calamity. If you live in Texas or cities like Corpus Christi, EI Paso, Beaumont, Brownsville, Harlingen, it’s essential to understand the risks and whether you need flood insurance. The cost of flood insurance differs on various factors, but it is typically low. Considering the significant damage that even a minor flood can cause, it is well worth the money.

If you would like to obtain a quote for flood insurance in Texas, TX Insurance Quotes can help. They are an independent insurance agency specializing in helping Texas residents find the best possible rates on their insurance policies.