Why Aren’t Floods Covered By Standard Home Insurance Policies?

Home insurance is a necessary part of homeownership and is often required to secure a mortgage. However, it can raise a lot of questions. For instance, why are incidents like theft and fires often covered by home insurance policies while disasters like floods are not? If the goal is to protect your home and ensure it’s covered during an emergency, wouldn’t protecting it against floods be a natural part of that? Let’s explore why standard home insurance policies don’t include flood insurance. When you’re ready to cover your home, the Anthony Lancaster Insurance Inc. team in Memphis, TN, is here to help!

Why Flood Coverage Isn’t Automatically Included in Your Standard Home Policy

So, why aren’t floods covered? The answer is quite straightforward. The damage that floods can cause is quite expensive, requiring more coverage than your standard home insurance typically provides. If insurance providers were to automatically include the costs of flood damages into home insurance policies, it would significantly raise your rates. This wouldn’t be beneficial to anyone, especially new homeowners already grappling with homeownership costs. By making flood insurance an add-on rather than a standard part of your home insurance policy, you save money.

Secure Your Home with Additional Flood Insurance from Anthony Lancaster Insurance Inc.

Home insurance is essential for keeping your home covered in the event of an emergency, but add-ons like flood insurance can further protect your property if you live in an area prone to flooding. Get flood insurance with us at Anthony Lancaster Insurance Inc. in Memphis, TN. Compare quotes now, or contact us if you have any questions!