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Flood Insurance in Texas

Ross Insurance Agency offers flood insurance options for the Waco, TX area. This type of flood insurance covers damage caused specifically by local flood events (other types of water damage and lingering issues after floods are not usually covered by these policies). If you believe that your property needs flood insurance, there are several things you should know about flood insurance in Texas:

  • Flood Insurance May Be Required: If a property you are buying via a mortgage is in an area that's a designated flood zone, then your lender will require you to take out flood insurance in addition to typical homeowner’s insurance. This is particularly important in Texas, which has some of the largest designated flood zones in the nation. Properties along the coast are likely to fall into one of these zones. There's also "Flash Flood Alley" in central Texas, a separate zone that also requires additional flood insurance.
  • There are Different Types of Flood Insurance: The most common policy covers flood damage to the home or building itself, up to $250,000. However, this policy does extend to belongings inside a flooded home. Those who want to cover their belongings as well will need to purchase a separate policy that can cover belongings up to $100,000.
  • Flood Insurance Has a Built-In Waiting Time: A flood policy usually takes around 30 days to take effect. This built-in waiting time prevents people from rushing to buy flood insurance if it looks like a bad storm is coming. Keep this in mind when arranging for your own flood insurance.
  • Flood Risks Can Change Over Time: Just because your property wasn't at risk for flood damage in the past doesn't mean there aren't risks today. New developments can alter landscapes and drainage areas, exposing buildings to new risks. A good agent will use the latest flood maps to check the risks in your area.

Have further questions? Ross Insurance Agency of the Waco, Texas area can help you find the right flood policy and provide the answers you need. Contact us today!