Is Flood Insurance required in Texas?

Floods can wreak havoc on homeowners’ property and financial interests. These natural disasters could be caused by many conditions, such as tropical storms and hurricanes, and even a small amount of floodwater finding its way into your home could inflict devastating losses. Given these potential consequences, flood insurance is an advisable investment. In fact, coverage may even be required for many homeowners.

Who Needs Coverage for Floods?

Flood insurance should be a top priority for homeowners along the Gulf Coast, such as those in East Bernard and the Houston area. Tropical storms and hurricanes moving in from the Gulf of Mexico can pose potentially catastrophic threats. Additionally, you should be aware that standard homeowners insurance typically explicitly excludes floods as covered perils, meaning that without bolstering your coverage, you’d have to manage losses and expenses out of pocket.

Beyond the logical need for flood insurance, you should also be aware of certain official mandates that may apply. For homeowners in Texas, the following potential requirements should be understood and considered:

• Federally regulated mortgages—If you reside in an area at high risk of floods and have purchased your home with the assistance of a federally backed mortgage, you are required to have coverage.

• Government aid eligibility—The Federal Emergency Management Agency (FEMA) can often offer aid to those who have suffered losses due to floods. However, if you’ve received such assistance in the past, you must have flood insurance to be eligible for future aid.

• Windstorm insurance compatibility—If you seek coverage through the Texas Windstorm Insurance Association, you may also need flood insurance. This requirement typically applies if the following conditions are met:

• Any part of your property is located in a high-risk flood zone.

• FEMA offers coverage through the National Flood Insurance Program in your area.

• Your home has been built or modified since Sept. 1, 2009.

Flood Insurance in East Bernard, TX

Contact Smaistrla Insurance Agency today to learn more about flood insurance or get a quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.