![]() ![]() So, if you don’t have flood insurance and a hurricane rips the roof off your home, or if a flood causes a deluge in your rental’s basement, you may have to pay out-of-pocket to fix these damages that can cost you hundreds of thousands of dollars.īut if you purchase flood insurance, which is relatively inexpensive in the scheme of things, your insurance will pay for all the costs beyond your deductible. ![]() In addition to homeowners insurance, you need to purchase separate flood insurance coverage. Standard homeowners, condo owners, or renters insurance does not cover damage caused by flooding. Yet many renters and homeowners believe that their renters or home insurance policies cover damages stemming from these hazardous conditions. If you live in an area with hurricane season, you are more susceptible to floods and other catastrophic disasters like heavy wind, rain, and an overflow of water. In the U.S., floods are the most common natural disaster. ![]()
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