Flood Insurance in Katy, TX
When natural disasters threaten your home, it’s critical to be prepared. However, regardless of your efforts, these preparations may need to account for situations beyond your control. While there may only be so much you can do to physically protect your property from incidents like floods, you can fortify your financial stability with the right insurance.
What Is Flood Insurance?
Flood insurance lives up to its name by providing financial protection from incidents in which floods damage your property, including your home, business or personal belongings. Like many types of insurance, coverage for floods is essentially a contractual agreement. In exchange for your premiums, you retain the right to file a claim for financial aid following floods that cause losses or damages.
What Does Flood Insurance Cover?
Flood insurance is typically composed of the following two key components:
- Structures coverage—This part of flood insurance can help pay for repair or rebuild costs if the walls, foundations, floors or other elements of insured buildings are damaged by floods.
- Contents coverage—This element of a flood insurance policy may compensate you for losses involving the contents of an insured structure, including furniture and electronics.
Who Needs Flood Insurance?
Coverage for floods is typically not included in standard homeowners, renters and commercial property insurance policies. Fortunately, you can augment your loss control measures by seeking out an endorsement or separate policy capable of providing appropriate coverage.
You should also be aware of any applicable requirements related to flood insurance. For example, if you have a mortgage through a federally backed lender and live in an area considered at high risk for floods, you may be required to carry coverage as long as your loan remains outstanding.
We’re Here to Help
At TS Insurance, we’re proud to serve homeowners, families and businesses in the Katy area. Contact us today to get a flood insurance quote online.