When a flood strikes, the average cost of damage to one's property can be staggering - $38,000 or more. Unfortunately, many homeowners who don't have flood coverage are left with only a paltry $5,000 in assistance from the government if they're lucky. In Harris County alone, nearly 135,000 homes were damaged during recent flooding events, and an astonishing 80% of those individuals didn't have flood insurance coverage.

It's easy to assume that government assistance will always be available after a flood, but the reality is that there are several factors that must align for homeowners to receive aid. The president must declare the flooding event a state of emergency, and even then, not all properties are eligible for assistance.

In fact, three-fourths of flooded properties were considered low to moderate risk areas, making it crucial for homeowners in these zones to consider flood insurance coverage. After recent major storms like Hurricane Harvey, we've seen flooding even in areas that were previously thought to be at low risk.

It's a common misconception that only high-risk areas are prone to flooding, but 20% of all flooding events across the nation occur in areas considered low risk. Real estate and insurance agents may tell you that you don't need flood insurance, but sadly, many homeowners decide not to purchase coverage because they believe they're safe from flooding.

If your home or business is located in a flood zone, it's essential to consider purchasing flood insurance coverage. In Illinois, where we've seen our fair share of flooding and more is likely coming, having this type of insurance can provide peace of mind and financial protection.

While some homeowner policies may offer endorsements that cover flooding, the only way to ensure comprehensive coverage is by purchasing a stand-alone flood insurance policy. Popular Illinois homeowners' insurers like Farmers, State Farm, Allstate, and Progressive typically exclude flooding from their standard policies.

Don't wait until it's too late - consider your flood risk today and explore your options for securing adequate coverage.

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