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Why Do I Need Flood Insurance?

March 7, 2024


Within the insurance industry there is no doubt, global warming is driving climate change, and the result is loss of life and property. Measurable historic data, from temperature rise to insurance claim costs, provide irrefutable proof.


Main Street Flooded


Flood insurance is crucial for several reasons, even if you don't live in an area traditionally considered at high risk for floods. Here's why having flood insurance is important:

  1. Standard Homeowner's Insurance Does Not Cover Flooding: Most standard homeowner's and renter's insurance policies do not cover flood damage. Without flood insurance, you may have to bear the full cost of repairing your home and replacing your belongings if they are damaged or destroyed by flooding.

  2. Floods Can Occur Anywhere: Flooding can happen in any location, not just near rivers, lakes, or coastal areas. Flash floods, inland flooding, and seasonal storms can cause flooding in unexpected places.

  3. Increasing Frequency and Intensity of Weather Events: Climate change is leading to more extreme and unpredictable weather, increasing the risk of floods even in areas where they were previously considered rare.

  4. Protecting Your Investment: For many people, their home is their most significant investment. Flood insurance helps protect that investment by providing the financial means to repair or rebuild after a flood.

  5. Recovery from Floods Can Be Costly: Even a few inches of water can cause severe damage to your home, leading to expensive repair costs. Flood insurance can provide peace of mind by helping cover these costs.

  6. Requirement for Some Properties: If your home is located in a high-risk flood zone and you have a mortgage from a federally regulated or insured lender, you are required to have flood insurance.

  7. Community Resilience: Having flood insurance contributes to the overall resilience of your community, helping it recover more quickly after flood events.


Many people forget about the additional ramifications of flooding if their home or business is flooded and not remediated as soon as possible, such as mold or rot. Mold / Fungus coverage is also a peril most often not covered on a homeowners or business insurance policy, outside of a very small allowance some policies may have built in.


In summary, flood insurance is often overlooked due to the additional costs involved, but flood insurance is as necessary as homeowners' insurance. Without it, you are only insuring your home for some perils, but not all. For more information contact Hudson Valley Agents at (845) 778-2141

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