If you’re a homeowner, it’s important to protect your home and belongings from damage caused by floods. The best way to do this is to purchase flood insurance coverage. But how much should you carry? At Baldo-Downs Insurance LLC, we are frequently asked this question by Tuscaloosa, AL homeowners.
How much flood insurance should you carry?
The amount of flood insurance that you decide to carry will depend on the value of your home and personal belongings. It’s important to consider the cost of replacing your home and possessions if a flood were to occur. A good rule of thumb is to insure your home for at least 80% of its replacement cost, plus any additional coverage needed for personal property. You may also need additional coverage for things like cleanup and debris removal after a flood.
It’s also important to remember that most standard homeowners’ policies do not include flood protection. If you live in a high-risk area, it might be worth considering special coverage such as an NFIP policy or private market policy from an insurer. It can really save you in case a disaster strikes.
Reach Out To Us
Ultimately, deciding how much flood insurance you should carry depends on factors such as the value of your property, risks associated with living in a particular area, and what type of coverage is available in your area. Talk with a local agent at Baldo-Downs Insurance LLC who specializes in floods and ask us about the best plan for you. We proudly serve the Tuscaloosa, AL area and would be happy to help you find a policy that meets your needs and your budget. So don’t wait and call us today!