If you live in Georgia and your home is in an area that is at high risk for flooding, as determined by the Federal Emergency Management Agency (FEMA), and your mortgage is backed by the government, then you may be required to buy an additional insurance policy to cover any potential flooding damage.
Home insurance policies usually do not cover damage caused by flooding because the risk of flooding is so high in the United States. Flooding is the country's leading cause of natural disasters, making it too costly to insure against.
If you're thinking about flood insurance and whether you need one, this post is for you as we share what you need to know about flood insurance in Georgia:
What Exactly Is Flood Insurance?
Flood insurance is a type of insurance policy that provides financial protection against property loss due to a flood. It reimburses damages caused by flooding and can help you rebuild and restore your home to its pre-flood condition. If a home is located in a flooding area, flood insurance is often required to obtain a mortgage. It is important to note that flood insurance does not cover damage due to other natural disasters, such as hurricanes or earthquakes.
What Does Flood Insurance in Georgia Cover?
Flood insurance in Georgia covers property damage resulting from flooding and other water-related losses. The flood insurance coverage generally includes damage to your home, as well as other structures on your property (such as a detached garage or shed), and sometimes even personal property. Depending on the policy and local regulations, certain types of water-related losses, such as sewer backups, may also be covered. It is important to speak to an insurance agent to understand what your policy will cover in the event of a flood in your area.
Do You Really Need Flood Insurance in Georgia?
Flood insurance in Georgia can be very beneficial, especially for areas that are prone to flooding. Georgia is among the top 25 states for flooding due to coastal flooding from hurricanes and tidal surges, inland flooding from heavy rains, thunderstorms, and snowmelt, and flash flooding from storms and storm surges. Flood insurance in Georgia will help protect your property assets from flood damage caused by flooding events, including clean-up and repairs. It is a good idea to assess your personal risk when deciding if you need flood insurance in Georgia.
Flood Zones That Require Flood Insurance in Georgia
Flood Zones in Georgia that require flood insurance, according to the Federal Emergency Management Agency (FEMA), are the coastal A and V zones, the AO and AH risk areas, and the AE and A99 floodplains. These areas are most prone to flooding, and so property owners in these areas are obliged to purchase flood insurance in order to protect their assets and homes from potential flooding.
How Can One Save Money on Flood Insurance in Georgia?
There are ways to save money when purchasing flood insurance. Here are a few tips and advice to help you save money on flood insurance in Georgia:
Check for Discounts
One way to save money on flood insurance in Georgia is to look for discounts. Many insurers offer discounts for policyholders who install special mitigation systems, such as sump pumps, that reduce the likelihood of flooding. Homeowners may also qualify for discounts by elevating their homes or by purchasing flood insurance in certain designated flood zones.
Update Your Policy
Updating your homeowner's policy is important when shopping for flood insurance. Ensure the coverage you select provides the protection you need, such as reimbursement for replacing damaged items. Also, make sure your policy is up to date with the latest information on flooding in your area.
Be Proactive
Another way to save money on flood insurance in Georgia is to be proactive. It's important to be aware of the weather in your area and understand the risk of flooding. For instance, if you know there is a risk of flooding in your area, be sure to take precautions like installing sandbags around the perimeter of your home.
Conclusion
Remember, flood insurance in Georgia is a necessity for many homeowners. With that in mind, make sure to take steps to save money when purchasing a policy. These tips help reduce flood insurance costs and keep your home and family safe.
Brand and Britt Insurance is here to provide you with flood insurance in Georgia and insurance for your life, car, home, and business. Get in touch with our insurance experts to learn more about our insurance solutions!