Living right on Mobile Bay in Spanish Fort, AL, you have to be prepared for the waters to rise every now and then. Hopefully, you have a good emergency plan in place. Even if you do, you probably also want some flood insurance. If you’re like most Americans, you might not be a complete expert on the topic. Align Insurance Group is here to answer a fundamental question.
Legal Requirements
It would be nice to say that there is a flat list of legal requirements and everyone needs the same flood insurance. That simply isn’t the case. Federal flood insurance minimums are based on federally backed loans (like an FHA) and the risk level of your flood zone. That’s not always easy to find, but if your area has more than a one-percent chance of flooding, you’ll need at least some flood coverage.
The state of Alabama does not assign additional flood insurance requirements on property owners. Instead, the state defers to the National Flood Insurance Program for recommendations and assistance.
Protecting Your Home
Regardless of laws, you want to have a fair idea of how much coverage is reasonable. There are two things to consider in this: the value of your house and the value of things in the house. Flood insurance is not about liability or flood-related health issues. It’s about the property. If your house has a mortgage, there’s a good chance the lender will make you take out enough insurance to cover the cost of the property in case of a flood. They won’t push you to insure any valuables inside the home. For that, you can get a base estimate that helps you make sure you have enough coverage for everything.
If any of that sounds complicated, or if you have more questions, feel free to contact your Align Insurance Group representative. We’ve been taking care of the Spanish Fort, AL, area for years, and we know the ins and outs of the local flood risks.
