Flood insurance is not a legal necessity, but it is recommended.
Currently, flood insurance is not legally required for homeowners along the Alabama and Florida Gulf Coast. Much of our area is on a flood plain which means a vast majority of homes are at risk of flooding. That said, many of our resident homes are deemed high-risk and should seriously consider some policy.
The critical thing to remember is that the value of the policy will vary depending on where a home is located. Those in low-risk areas will have lower-value policies while those in high-risk areas will have higher-value ones. As a result, most residents of the state should seriously consider flood insurance to protect their home and wellbeing.
How flood insurance protects policyholders
Flood coverage along the Gulf Coast varies depending on the specific policy purchased. For example, building coverage is designed to protect the home’s structure, including various elements. These include features include plumbing and electrical systems, all built-in appliances, and structural damage.
The other part of most flood insurance policies includes content coverage. This type of plan covers the owner’s belongings, such as various types of electronics, furniture, clothing, other appliances, multiple types of jewelry, and more. This coverage gives an extra layer of protection during a flood.