There are many misconceptions when it comes to purchasing flood insurance.
Many homeowners think they’re not at risk for flooding, when they usually are. And many believe that if they are flooded, they’re insured for it. For example, the coverage is often inadequate lacking enough coverage to fully rebuild the home. Although flood insurance is available to many homeowners under the NFIP, most don’t have it. This is true for many of Hurricane Harvey’s victims. This hurricane was the most significant tropical hurricane in the United States history. Harvey’s damage was between $90 Billion and $160 Billion with a midpoint at $125 Billion.