The Myth: Homeowners Insurance Covers All Types of Damage
Many homeowners mistakenly believe that their standard homeowners insurance policy covers all forms of water damage. Unfortunately, this isn’t the case. Flood insurance in Little Rock, AR, is not typically included in standard home insurance policies and requires a separate policy altogether.
Where Can I Purchase Flood Insurance?
You can buy flood insurance from most of the same providers where you purchase home insurance. It’s available through your local independent insurance agent, including us here in Little Rock, AR!
Is Flood Insurance Expensive?
The cost of flood insurance can vary significantly depending on several factors, such as:
- The value of your home
- The location of your home (e.g., near rivers, streams, or swamps)
- Whether it’s a primary or secondary residence
- Whether your home has a basement
- And more
For a quick estimate, we can provide you with a personalized quote. You can also visit FEMA’s website to assess your flood risk based on your home’s address. However, the fastest way to get a clear picture and a quote is by contacting our agency directly.
Does FEMA Cover My Flood Loss?
FEMA only steps in when the President of the United States declares a FEMA emergency—this happens in about 50% of major floods (according to FEMA.gov). Even then, the aid provided is typically a low-interest loan that must be repaid, not a grant or free money.
Do I Need Flood Insurance if a Pipe Breaks in My House?
No. Flood insurance is not intended for damages caused by a broken pipe in your home. This type of damage would generally be covered by your standard homeowners insurance policy.
Is Sewer Backup Covered by Flood Insurance?
Not unless the sewer backup is caused by rising floodwaters. For sewer backups, there’s a specific coverage called Water & Sewer Backup coverage. Be sure to ask your agent about this and understand what it covers.
How Fire & Water Can Lead to Floods
If you live in an area affected by wildfires, you may be at higher risk for flooding. Dead trees, which once absorbed a lot of water, can cause excessive runoff, leading to flooding in areas that are typically not prone to it.
Should You Get Flood Insurance?
Ultimately, the decision to purchase flood insurance is up to you. While it is usually optional (unless required by your mortgage lender in high-risk flood zones), it can save you thousands of dollars in potential flood damage.
If you’re in Little Rock, AR, give G&G Independent Insurance a call today for a no-obligation flood insurance quote. We can quickly provide you with pricing and help you determine whether flood insurance is right for you.
