If you have ever considered purchasing flood insurance, than you know that a policy will not take effect until thirty days after you enroll. This is designed to encourage people to get coverage well before seasons where inclement weather is more likely, and it's also a means to prevent insurance fraud. Therefore, if you wish to get a flood insurance policy on your home, the short answer is well before the rainy or hurricane season in your area. As for why you should have this insurance, there are many reasons to take into consideration.
1) Flood insurance is applicable regardless of where you live.
You might think that, because you live inland and in an area not susceptible to hurricanes, that you are relatively safe from flooding. In truth, every home carries the same risk, no matter if you're perched along the coast or on a plain. Flash floods are aptly named because they can happen without warning, and a particularly active flood with waters up to 10-20 can carry away a car easily. Imagine what those powerful waters can do to your home!
Given recently activity in Tennessee, Missouri, and other parts of the country, you know that flooding doesn't discriminate. A sound policy will prove valuable and essential in the event of a flooding emergency.
2) Flood insurance is more affordable than the alternative.
Consider this: you may pay only a few hundred dollars a year in flood insurance depending on your home, location, and risk. When you realize that a federal assistance loan taken following a natural disaster could cost you thousands and take several years to pay off, don't you think it's more economical to have the right insurance policy in hand?
3) Some flood insurance policies help you recover more quickly.
Unlike other types of insurance, some flood policies allow you to take a partial payment after the fact, which gives you the advantage in terms of recovering your property. If you've had to deal with certain insurance companies before, you may have waited for weeks and even months for compensation. Here, you can plan to set things right while you wait for the rest of your payment.
4) Having the policy gives you peace of mind.
If you already have policies against theft, fire, and other natural disasters, why not have one that covers you in the event of rain and flood damage? Even one inch of heavy rain is capable of causing structural damage to your home, so it's best to cover all the bases.
Consider enrolling now for flood insurance through a reputable company. The sooner you have the policy in hand, the safer you will feel.