In recent years the U.S. has seen a steady increase in catastrophic weather events, from hurricanes, torrential rainstorms, wildfires, earthquakes, tornadoes, and mudslides. In Texas, the most devastating cause of property losses have been due to flooding, either from sudden thunderstorms or hurricanes dumping several feet of rain in the region. Residents and business owners along the Gulf Coast have experienced several record-breaking floods, but many still take the gamble of not having Flood Insurance. Today's Aegis blog post looks at three reasons why you shouldn't put off getting Flood Insurance coverage, especially before hurricane season.

More Frequent Weather Events

The Gulf Coast region of Texas has experienced three straight years of torrential floods, with thousands of homes and businesses impacted, and some impacted multiple times. Not only is flooding occurring more often, but it's also impacting areas long thought to be safe from flooding and not included in previous state and local flood plain maps. Because our country is experiencing more severe weather than ever before, it is essential to have Flood Insurance because of the increased risk of flooding to homes and businesses.

30 Day Waiting Period

Unlike other kinds of personal and commercial insurance policies, Flood Insurance has a waiting period of 30 days from the date of purchase. This waiting period means that Flood Insurance will not cover any kind of flood damage that occurs during that time, and repairs would have to be paid out of pocket. Since it's impossible to know what kind of flooding might occur 30 days from now, it's best to not risk going uninsured for flood damages.

High Cost Of Flood Damages

Anyone who has suffered flood damage in their home or business can attest to the high cost of repairs and asset replacement, especially for significant flood events like Hurricane Harvey, where some properties were submerged for over a week. The cost of demolition work, reconstruction, and replacing assets and property can be substantial, and this doesn't even factor in other expenses such as taxes, mortgage or rent, and utilities, even if construction is still ongoing. For many homeowners and business owners, paying the high cost of flood damages can ruin them financially if there isn't Flood Insurance available to help offset those costs.

Aegis Insurance & Financial Services is pleased to help homeowners and businesses across Texas secure Flood Insurance as part of a comprehensive insurance plan to protect against losses and damages. Our friendly and knowledgeable team can help create a customized insurance package tailored to your unique needs, all at competitive rates. Contact Aegis today at 713-850-7622 for more information, or fill out our online form for a free quote!