Who Needs Flood Insurance In Spanish Fort?

January 25, 2021

People that move to the Spanish Fort, AL area need to consider purchasing their own home. If you are a property owner here, the growing population and strong economy could encourage long-term price appreciation. To ensure that your investment is properly covered and protected, you should consider getting flood insurance. This is a unique form of coverage that is needed in many situations. There are a few scenarios in particular when someone needs to have this coverage.

When Concerned About Flood Risk

A situation when you may need to have flood insurance in the Spanish Fort area is when you are concerned about flood risk. There are many large waterways in this area of the state, which could cause flood damage during some bad storms. Most of the time, the protection you would receive with your home coverage is limited to flood protection. When you get a full flood insurance policy, it will give the coverage needed to offset this risk.

When Located in a Flood Zone and a Mortgage Borrower

Those that purchase a home here may find that their mortgage lender will require that they carry flood insurance. If you have taken out a mortgage and you live in a designated flood zone, your lender may require that you carry a full flood insurance policy at all times. Usually, your policy will need to be approved, and payments will be escrowed. 

Those in the Spanish Fort, AL area need to make sure that they are properly considering their flood insurance needs. When looking for a new policy in this area, it would be wise to call Align Insurance Group. The team with Align Insurance Group can help you assess your needs and build your next policy. 

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Daphne, AL 36526

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