The Scott Godwin Agency: In the know about flood insurance

Like many voluntary insurance policies, flood insurance is something many may not take the time to stop and think about. Did you know that 87% of homeowners reportedly do not have flood insurance? In fact, most people don’t give it a second thought until they’re standing in knee deep water. That’s not the best time to come to the realization that you needed flood insurance.

Remember the spring of 2015? It rained like crazy for the first part of the year and Oklahoma hit a record for rainfall! When that happened people started thinking about flood insurance, but some people waited until it was too late. A lot of people simply don’t understand flood insurance and there are a few common myths about having it.

Myth # 1: There is no need for flood insurance unless your home is in a flood-zone.

This myth puts many property owners at risk! More importantly, just because you haven’t been hit by a flood before doesn’t mean that you won’t. Keep in mind that melting snow and heavy rainfall can cause some disastrous floods.

Myth # 2: Your Homeowners insurance policy will cover flood damage.

The truth is that the typical homeowners insurance policy won’t cover all forms of water damage. You may have coverage if a pipe bursts, but flood damage is not generally covered. You’ll want to go over your policy to make sure you understand your coverage options.

Our OKC insurance team members can help you:

• Evaluate your property’s flood risk.
• Find out which flood insurance policies you’re eligible for.
• Get covered the way you want.
• Make an informed decision on flood insurance and understand what it covers.

Someone at The Scott Godwin Agency would be happy to help you look at your Farmers insurance options. Don’t hesitate to stop by and see us!