Having adequate flood insurance is really important for those who own homes in Opelika, AL. We can help you meet your flood insurance needs at Elliott & Associates Insurance. 

The following are three things you might not already know about flood insurance.

Flood coverage isn’t usually included in a home insurance policy. 

Perhaps the most important thing to know is that a standard home insurance policy won’t provide coverage for flood damage. That’s why it’s very important for many homeowners to invest in flood insurance coverage.

Read the fine print of your home insurance policy. Most likely, you’ll find that coverage for flood damage is excluded. 

You may be required to purchase flood insurance according to mortgage terms.

A lot of mortgage providers require that their borrowers invest in flood insurance coverage for the properties they buy with their mortgage loans. Mortgage lenders do this in oder to protect the investment they’ve made in the properties that their borrowers buy.

You don’t want to neglect to purchase key insurance coverage required by your mortgage lender. That’s why it’s so important to make sure that you’re familiar with the insurance coverage requirements of your mortgage lender. 

You could qualify for subsidized flood insurance. 

The government subsidizes flood insurance for homeowners whose properties are located in areas that are considered to be especially high risk for flooding. It’s important to look into government-subsidized flood insurance options when you’re on the market for the right flood insurance policy. 

You can learn more about flood insurance in Opelika, AL by getting in touch with us today. Contact us at Elliott & Associates Insurance to find the answers you’re looking for to your flood insurance questions.