How much flood insurance should I buy if I live in a flood zone?

If you just found out that you live in a high-risk flood area, you must be worried sick about how much flood insurance will be enough to cover every aspect of your home. Floods in San Antonio, TX can be destructive if you are not financially organized. A good rule of thumb is to purchase coverage that is equal to the value of your home. This way, you are sure to get the maximum recovery of what you lost due to water damage. 

Always buy enough insurance to rebuild your home

Sounds obvious. If you live in a high-risk area, the chances are that you will encounter a flooding event every year. Floods can damage the entire foundation of your home or, worse, sweep your home away. You want to make sure that your flood insurance policy is adequate to cover for the entire house structure in case it is damaged by floods. At Leapfrog insurance, we recommend hiring a contractor to assess your home value and give you a precise figure before reaching out to your insurance company.

Buy enough coverage to replace your personal belongings.

You also need to determine the value of your personal items in the house by calculating the cost per item. You can use receipts to help you know the price of furniture, electronics, appliances, and other personal items like clothes and shoes. You should also keep an inventory of these items in case your insurance provider requests to see them. 

Once you factor in the cost of your home, the belongings inside, and the combined assets, you can now set your coverage limits based on this value. Flood insurance is the lifesaver you need if you live in a high-risk flood area. Our insurance experts at LeapFrog insurance will be happy to help you calculate how much coverage you need for your home. Feel free to contact us or visit us in our San Antonio, TX offices today.