Austin Flood Insurance

Do You Have Austin, TX Flood Insurance?

Officials with the City of Austin warn residents that all homes and businesses in the metropolitan area have flood damage potential. In fact, as the city’s website points out, Austin lies right in the middle of an area commonly referred to as “Flash Flood Alley.” If you own property in this part of Texas, it is important to be sure you have adequate Austin, TX flood insurance coverage for your home, business, and vehicles.

When shopping for flood insurance, you can contact an independent insurance agent in the Trusted Choice® network for help. These agents can review your current coverage, suggest sensible alternatives, and provide Austin flood insurance quotes for varying levels of coverage. Contact a member agent in your neighborhood today to get more information.

Austin, TX Flood Facts

  • Number of Austin buildings subject to flash floods from creeks: 7,000
  • Number of Austin roads at risk to flash floods from creeks: 4,000
  • Portion of Austin structures located in a high-risk flood plain: 10%

Local lakes and creeks are some of the main attractions of this Texas city, but during periods of heavy rains they can surge and cause extensive damage to surrounding property.

Why Is Flood Insurance Important?

It is extremely rare for a home or business insurance policy to cover flood damage, which is why securing a seperate Austin flood insurance policy is so important.  Flood waters can destroy the foundation of a home or business and cause extensive damage to the property inside it. Without flood insurance, you will be left to pay for repairs and replacements entirely on your own, and these costs can be unmanageable.

Many people feel assured that FEMA will provide the necessary funds to rebuild in the wake of a disaster. The help from FEMA comes only in the form of low-interest loans that must be paid back. Only a flood insurance policy can give you compensation you need to get back on your feet without the obligation to pay back any of the funds.

Is Austin Flood Insurance Required?

Mortgage lenders will require that all properties located in designated flood zones are covered by flood insurance. In Austin, this includes about 10 percent of area homes and businesses. If you own your home outright or live in a low-risk zone, this coverage may be optional. However, floods can happen anywhere and a large number of flood claims are filed by homeowners who live outside these high-risk zones.

What Is Flood Insurance?

In the late 1960’s Congress created the National Flood Insurance Program, or NFIP. This federally-backed insurance program was created to protect homeowners from the devastating financial hardships floods can cause. The monthly price of a policy is usually drastically lower than the payments on a FEMA-provided loan would be, and securing this coverage is a great way for homeowners and renters to safeguard their investments. You cannot be turned down for flood insurance because you live in a high-risk area, nor will your rates increase because you have filed an insurance claim.

The cost of coverage is standard and is based solely on the risk assessment of your location and the amount of coverage you purchase. According to FEMA, preferred risk policies start at just $129 a year.

What Does Austin Flood Insurance Cover?

Flood insurance offers two types of coverage: one for the structure of the building itself and the other for its contents. You can opt to purchase only one type of coverage, though most homeowners purchase both.

  • Building coverage: This portion of a flood policy provides compensation for damages to the building and its foundation, plumbing and electrical systems, furnaces and air conditioning units, built-in appliances, and permanently installed carpeting over unfinished floors.
  • Contents coverage: This portion of a flood policy provides coverage for loss or damage to clothing, furniture, draperies, electronics, window air-conditioners, portable appliances, carpeting and flooring for anything that was kept in above-ground floors of your home. Flood insurance will not cover contents in a finished basement.

How Can You Get an Austin Flood Insurance Policy?

Although flood insurance is offered by the federal government, it must be purchased through a qualified insurance provider. Securing flood insurance for your home is easy with the help of a Trusted Choice member agent. These agents can help you determine how much coverage you need and can show you how much different coverage options will cost.

A local member agent can do more than just help you secure a flood insurance policy. These agents are available to assist you with all your insurance-related needs and can even advocate for you during the claims process if you need assistance. Contact a local agent in the Trusted Choice network today to get more information and to start reviewing Austin flood insurance quotes for a variety of different coverage levels.

Now, who's ready to get their insurance problems solved?