Georgia Flood Insurance

Flooding is quite common in Georgia. Each year, flooding in Georgia is a common occurrence. Flood damage is not covered by traditional homeowners insurance. Georgia homeowners should purchase flood insurance.

Flood insurance is important for Georgia homeowners

Although hurricanes are not common in Georgia, the state is subject to other severe weather conditions that can cause flooding. Georgia suffered from continuous rainfall in 2009 that caused severe flooding, resulting in $500,000,000 in damages. In 23 counties, it is estimated that 22,000 homes, buildings and businesses were damaged.

Surprisingly the most vulnerable areas of Georgia to flooding are not along the coast. According to the Federal Emergency Management Agency, (FEMA), the majority of high risk flood areas can be found in the northern half of the state. This includes Fulton County and Gwinnett County as well as Cobb County and Dekalb County.

Flood insurance is recommended for Georgia residents. Homeowners insurance does not cover flood damage. Flood damage to your home and personal property can cause severe flooding. You would have to pay the entire cost out-of-pocket. Floods can strike when you least expect it and without flood insurance, repairs can cost thousands of dollars.

Flood insurance costs in Georgia

Although flood insurance isn’t cheap in Georgia, it is usually less expensive than buying standard homeowners insurance. The average flood policy in Georgia, according to the National Flood Insurance Program (NFIP), costs $661 annually.

Flood insurance policies are determined by a number of factors including the home’s location, its value, elevation, type of coverage, and the deductible. Every homeowner in Georgia will be charged a different rate for flood insurance.

Flood insurance: When should you buy it?

Many homeowners make the error of buying flood insurance just before a major storm hits. Flood policies usually have a 30-day waiting time, so you must purchase coverage before a storm hits. You will lose your coverage if you buy insurance before the waiting period expires.

Georgia homeowners should take steps to purchase flood insurance. Flood insurance should be purchased as soon as you move into a new house. Flood insurance is best purchased as soon as possible to ensure your peace of mind. Georgia homeowners are able to purchase flood insurance at any hour, with no restrictions.

How to buy flood insurance in Georgia

Most Georgia homeowners choose to buy flood insurance through the NFIP. The NFIP flood insurance program is a government-funded program. It is sold by independent agents and private insurance companies. Remember that there is a 30-day waiting time for new policies under the NFIP.

Flood insurance policies under NFIP

NFIP policies also include personal property and dwelling coverage. All losses directly related to flooding are covered. There are a few exceptions. It doesn’t cover other structures like fencing, pools, or landscaping.

NFIP policies can provide homeowners with up to $250,000 of dwelling coverage and $100,000 for personal property coverage. These policies can be purchased separately and come with separate deductibles. All NFIP flood insurance policies have a one-year validity. After that, the policy must then be renewed to continue coverage.

You can use the online searching feature to find out if your insurer sells flood insurance. Many major insurance companies, including Allstate, Farmers, Liberty Mutual, USAA, Auto-owners, Farmers and Farmers, have a partnership agreement with NFIP. Some local insurance providers also have a partnership agreement.

Flood insurance policies that are not listed here

Some homeowners in Georgia also choose private insurance as an alternative. Private flood insurance is usually more expensive than the NFIP and has a higher coverage limit. Private flood insurance may have a higher deductible than NFIP policies.

Questions frequently asked

Is Georgia flood insurance legal?

Georgia does not require flood insurance. Some mortgage lenders require homeowners to have flood insurance until the home loan is paid off. Flood insurance is an excellent investment for any Georgia homeowner. Homeowners are responsible for all flood-related damage out-of-pocket if they don’t have Georgia flood insurance.

Is flood insurance available at a discount through NFIP?

The NFIP offers homeowners a number of ways to get a lower insurance premium. You can get a lower rate by making your home less vulnerable to flooding. This includes filling your basement with water, raising your property, and installing flood doors. To save money on their annual premium, homeowners can increase their deductible.

What amount of flood insurance do you need?

Flood insurance should be sufficient to cover the costs of rebuilding and replacing personal belongings in case of major flooding. Private flood insurance is often more affordable and offers greater coverage.