Flood insurance is often overlooked because it’s not covered in your standard homeowner’s policy. However, many people still need flood insurance. At David King Insurance Services LLC in Coppell, TX, we offer many types of insurance, including flood insurance. 

Are You Required to Have Flood Insurance?

Some people are required to have flood insurance. If you live in a high-risk flood zone and have a federally-backed mortgage, you are required to have flood insurance. 

If you’ve received disaster relief for your home or business in the past, you are also required to have flood insurance. 

Lastly, your lender may require you to have a flood policy, even if you don’t live in a high-risk flood area. 

Do I Need Flood Insurance?

If you aren’t required to have flood insurance, you may wonder if you need it. The answer is generally yes. 

Your homeowner’s policy doesn’t cover flooding, and flooding can occur anywhere, even if you don’t live in a flood-prone area. 

Federal relief is typically limited to disaster relief loans and grants which average $5,000 per household. This is not nearly enough to repair or replace your home if it’s seriously damaged by flooding. 

If you are in a high-risk flood zone, your chances of having a flood in a given year is 1%. Over 30 years, which is the average length of a mortgage, is 26%. Medium-risk flood zones have a risk between .1% to 1%. This may seem low, but when you consider your risk over 30 years, it’s still significant. Even areas with the lowest risk can flood. 

Schedule A Consultation Today

If you need flood insurance in Coppell, TX, contact us at David King Insurance Services LLC. Our experienced agents are here to meet all your insurance needs. 

Protecting your property is extremely important, and there are a lot of different ways you can do that. One of those is through having the right insurance policies, and that includes flood insurance. Even if you live in an area where flooding isn’t common, it can still take place, and that can cause serious damage to your home. If you’re in the Coppell, TX area, David King Insurance Services LLC can help.

Here’s how to get the right flood policy for your needs:

1. Work With a Trusted Insurance Agent

Working with a trusted agent is important when you’re looking for a good flood policy. That can make it easier to get your questions answered, and also help you focus on the best policy for your specific situation. You don’t want to just pick something, because it might not give you the level of coverage you really need to keep your home secure.

2. Compare Flood Policies From Different Insurers

When you work with an agent, they can help you compare flood policies from a few different insurers. That means you can see these policies all in one place, and you won’t have to spend a lot of time checking with individual companies. Your agent will also go over the options with you, giving you the ability to pick a policy with confidence.

3. Review Your Policy on an Annual Basis

Reviewing your policy at least once per year is the right choice. There could be important changes that need to be made, or you may want to update the policy in some way. A review can help you remain confident that you have the right coverage.

We Are Here To Help

If you’re in the Coppell, TX area and need flood insurance, reach out to us at David King Insurance Services LLC today. We can help you get the coverage and peace of mind you’re looking for.