Middle Tennessee Floods Should Give Reason For Homeowners To Look Into Flood Insurance Policies

This week’s flooding in middle Tennessee serves as a reminder for flood insurance.

Vice President of Operations for Swallows Insurance Agency Kelly Swallows said that flooding is not covered in most homeowners’ protection. Swallows said that when communities see floods like last weekend, it serves as a reminder that flood insurance policies don’t serve only those on flood plains.

“I can guarantee you a lot of those homes were not in a flood zone and did not have flood insurance,” Swallows said. “Because they didn’t think it would ever happen. And unfortunately, these circumstances show that it can happen and since your home insurance policy, that most people have if you own a home, does not cover flood insurance, it is something that we hope becomes more of a necessity.”

Because flooding is a specific kind of damage, she said that flood insurance policies are run by the National Flood Insurance Program.

Swallows said those with a loan or mortgage on a flood zone home are typically required to have a flood insurance policy. She said those who don’t have a mortgage, loan, or even live on a flood plain should investigate obtaining a policy for both your home and its contents.

“Sometimes if you’re not in a designated flood zone, your insurance rate is going to be a lot cheaper,” Swallows said. “Kind of like if you have a house at the beach, it’s going to be a lot more expensive to insure it for hurricanes and those things than it is for a house may be up in the mountains. So that’s just something to kind of compare. But it is available to purchase at a better rate if you’re not in a flood zone, but you’re protected.”

Swallows said that any homeowner is able to purchase flood insurance. She said that because flood insurance policies are so meticulously regulated, most rates will be the same at any agency you go to. She said that the most coverage you can obtain from a National Flood Insurance policy is $250,000 on the building. She said that everything inside a house is not automatically added to a flood insurance policy.