Why Flood Insurance?

According to the National Weather Service, Central Texas has more floods than any other area in the United States. Despite this, not even a quarter of the homes in the highest-risk areas have flood insurance. You may not realize it, but there is a good chance that your homeowner’s insurance policy does not cover flood damage.

Even if you live in an area of Texas that is considered to be at minimal risk for flooding, you are still putting yourself at risk. According to the Texas Department of Insurance, about a quarter of flood damage occurs in areas that are considered to have minimal flood risk.

Flood insurance in Sugar Land can be expensive, but it is a good idea. Flooding can cause massive damage to your property. It can destroy your flooring, furniture, electronics, and even the foundation of your house. If you do not have flood insurance, you will have to replace these things out of pocket. If you live in Sugar Land and are interested in flood insurance, call Gulledge Insurance at 281-207-0771. With nearly 30 years of experience in the insurance industry, we can find you the right coverage at the right price.

Types Kinds of Flood Insurance

There are two different kinds of flood insurance to choose from:

• Cash Value Policy: This policy is based on the depreciated value of the property. In other words, the insurance company would provide the funds necessary to buy a similar asset with the same level of quality, minus depreciation. It can also be thought of as the fair market value, which is the value of the property if the seller had reasonable time to get the best deal on it.
• Replacement Value Policy: This policy pays based on the amount of money it would cost to replace the damaged property. Most replacement value policies have a coverage limit, beyond which they will not make any further payment.

Finding the Right Flood Insurance Coverage

Many homeowners’ insurance policies do not cover flood damage. In an area as prone to flooding as Sugar Land, making sure you are covered in case of flooding is vital. Gulledge Insurance is not an insurance brokerage. That is, we are not tied to any carrier but instead will shop around to get you a customized deal that will contain the best coverage you can afford. If you are looking for flood insurance in the Sugar Land area, call 281-207-0771 to discuss your options.