Homeowners Insurance Frisco TX: Do You Need Flood Insurance?

Homeowners insurance Frisco TXAccording to the Federal Emergency Management Agency, floods are the nation’s number one natural disaster and they occur in all 50 states.  That’s why it’s important to talk to the agent who handles your homeowners insurance in Frisco TX about buying flood insurance for your home.  Whether you live in a federally-designated Special Flood Hazard Area (SFHA) or a non-SFHA, your agent will tell you that everywhere it rains, it can flood.  That means everyone in the United States lives in a potential flood area, which makes protection from the devastating damage even a few inches of water can do very important.

If you live in an area that’s designated as high risk for flooding and you have a home loan from a federally-regulated or insured lender, flood insurance is mandatory.  For all others, it’s optional.  Since standard policies for homeowners insurance in Frisco TX typically don’t cover flood damage, separate policies are available from the National Flood Insurance Program.  Unfortunately, a lot of homeowners never read the details of their insurance policies, so they believe that they’re covered for floods when they’re actually not.  The average residential flood claim from 2008 to 2012 amounted to about $38,000.  Since the majority of claims for flood damage come from middle- to lower-income homeowners, that amount can be a catastrophic loss without flood insurance.

In order to be eligible for the NFIP, your community has to participate in the program.  Most communities do.  To check whether or not your Texas community is on the list, go to http://www.fema.gov/cis/TX.html.  If flood insurance is available to you through the federal government, costs and coverage varies depending on the flood risk for your particular area and whether or not you want to add personal property coverage to your insurance.  The federal government does not sell insurance directly.  To purchase flood insurance through the NFIP, see the agent who handles your homeowners insurance in Frisco TX.  In addition to asking whether or not you’re required to have the insurance, there are a few other questions you might find it helpful to ask him:

▸ If my community participates in the NFIP, can I qualify for a discount based on their rating?
▸ Are there any other ways to reduce my premiums?
▸ In addition to the premiums, are there any other agency fees or expenses I should know about?
▸ What will and won’t be covered under the policy?
▸ How much coverage should I get for my home and its contents?
▸ Who should I call if I have a flood claim?

Although the rates for flood insurance through the National Flood Insurance Program are set by the federal government and don’t vary from agent to agent, it’s best to find an agent you trust with your homeowners insurance in Frisco TX and who will answer all of your questions.  In Frisco, the insurance agency to call is the Anthony Blackmon Agency.  In addition to flood insurance, the Anthony Blackmon Agency can handle all of your homeowners, life and automobile insurance.   Call 469-291-9006 or visit www.anthonyblackmonagency.com to learn more.

Homeowners insurance Frisco TX
Anthony Blackmon Insurance Agency
9191 Kyser Way, Suite 200
Frisco, Texas 75034
(469) 362-8484

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