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The Houston area recently suffered from a natural disaster. Some homeowners might have been unprepared without flood insurance.
Typically, homeowner’s insurance doesn’t cover rising flood water. That’s why you need an additional flood policy to cover those specific damages. Fortunately, because it’s issued by the federal government, it ranges from $400 to $1,200 a year depending on the elevation of your home and insurance coverage.
"Typically, homeowner’s insurance doesn’t cover rising flood water."
However, the policy doesn’t take effect until 30 days after you sign up. Hypothetically, you can’t run out and buy a plan right before a major storm comes your way. Additionally, whenever a new storm (with a name) enters the Gulf of Mexico, new insurance policies are frozen. They cannot be issued until the storm has passed.
Let’s chat soon. If you’re thinking about buying or selling a home in the surrounding area, reach me by phone or email. I’d be happy to serve your local real estate needs and answer any questions you might have!
