Reasons Why Flood Insurance is so Important

If you own a home in Myrtle Beach, SC you may want to consider purchasing flood insurance. Unfortunately, every property can be vulnerable to flooding, especially when you live on the coast. However, most home insurance policies do not protect your home against damages caused by flooding. Here are a few reasons why flood coverage is so important.

Floods are the Most Common Natural Disaster

Most properties fall under flood zones. Flooding can occur from severe storms, heavy rain, broken damns, and more, so it is best to be covered in case of a catastrophe.

Low Risk Flood Areas

Twenty percent of all flood claims come from low to moderate risk flood areas. Mother nature is unpredictable, and you never know when a storm can cause a flash flood.

You are More Likely to Experience a Flood Than a Fire

According to The National Flood Insurance Program managed by FEMA, you are almost 30 times more likely to experience damages from a flood than a fire during a 30-year mortgage agreement.

Storms are not the only Cause of Flooding

Other natural disasters like mudslides, high tide, and ice melts can cause severe floods and water damage. In addition, damaged drainage systems and new land development can cause unforeseen flooding.

Small Amounts of Water Can Cause a lot of Damage

Just one inch of water can cause major issues and property damage such as rotting wood, mold, bacteria growth, structural issues, and more. Flood insurance will help protect your home from both large and small-scale disasters.

If you live in Myrtle Beach, SC, and are looking for more information on the importance of flood insurance, reach out to the offices of Benefit Insurance Services.