Flooding is a very real hazard to property today. If you happen to live next to a river or on an old flood plane then the likelihood is that your home will suffer some sort of flood damage within the next thirty years. Global warming and the changing nature of weather systems have resulted in extreme climate change and more natural disasters occurring than ever before. However, despite this, you will rarely find that flood damage is actually covered on a regular home insurance policy. You usually have to take a more comprehensive and expensive policy or take out specialist home owners flood insurance protection.

Excessive amounts of water have the ability to effectively destroy your home, although most floods only cause superficial damage. Paying for repairs can be extremely expensive, especially if you do have to find the money for this after every flood. It is therefore highly advisable that you take out a home insurance policy to cover your property if the area you live in is prone to flooding. You will almost certainly be asked whether your home is prone to flooding when you apply for a home insurance policy so you should do the necessary research in advance to make sure that the policies you are applying for will cover you in the event of a flood.

Home owners flood insurance protection can effectively protect your property and give you peace of mind. Although not generally covered in conventional policies, a large number of insurers will actually provide an extra home insurance policy for you to add on to your existing policy. The extra can cost in excess of a $500 annual premium, but does tend to give up to $100,000 protection as standard. Some home insurance policies that include the home owners flood insurance protection add on will also try to tailor their policies to your needs. For example, if your home is a high value home then the sum insured will rise in proportion to the potential damage flooding could do. Of course, the premiums also rise in proportion. The enhance cover is not available to coastal properties though and so it may not apply, depending on where your property is located.

It was a government initiative that actually paved the way for enhanced home insurance policies. They founded the National Flood Insurance Program (NFIP) in 1968. Homeowners flood insurance protection was not mandatory so homeowners could opt in if they so wished. The premiums were fairly high but it meant that the taxpayer did not have to foot the bill of any relief efforts put into place. The premiums already paid by homeowners would actually fund that, as well as any claims.

Obtaining a home insurance policy that protects against flooding can be a nightmare unless you know where to look. There are governmental policies and private ones to choose from, but taking out a home owners flood insurance protection policy is advisable if you live in an area prone to flooding. I doubt very much that you would like to fund any necessary repairs yourself!