Our recent storms are facts that it can rain anywhere within Massachusetts, and you should consider getting flood coverage so you are not uninsured when you need it most. FEMA admits that their flood maps only give an idea of part of the risk. Because of all these factors, it is difficult for property owners to know their true risk of flooding. If the area has been developed, there is likely more concrete, creating a barrier for land that previously might have absorbed the massive downpour. Many of these maps are over 40 years old. Are you willing to gamble on your financial future by forgoing flood insurance coverage? One more note on these low-risk flood zone maps. That $5K you get from the government? It comes in the form of a loan, and you will need to pay it back. The average cost of damage to one’s property after a flood is $38,000+. 2 – Homeowners’ average amount of assistance after a flood, when they do not have flood coverage, is $5,000. If this doesn’t happen, then there won’t be assistance. 1 – The president of the United States must declare the flooding event a state of emergency. However, a few things must align for you to get government assistance. We often hear that people believe that the government will help, which is true. Three-fourths of these properties were considered low to moderate risk. In Harris county, nearly 135,000 homes were damaged. In 80 percent of these individuals had water in their homes or building and didn’t have flood insurance coverage. ![]() After our last few major storms (Hurricane Harvey), we saw flooding in these low-risk areas. I ask you to consider the facts: 20 percent of all flooding events across our nation come in areas that are considered low risk. Some real estate and insurance agents may even say you don’t need it. ![]() Sadly, many homeowners decide to forgo purchasing coverage because they believe they are safe from flooding. If your home or business is in a flood zone, that is considered low flood risk area. However, many of us only think about it when a big storm looms, or we have heard on the news that there is flooding forecasted or happening too close to our home. We believe that most homeowners think about Flood insurance in Massachusetts at some point, maybe before buying a home or during the closing process. Do I need flood insurance in Massachusetts? It is important to have flood insurance coverage in Massachusetts because our beloved Cowboy State has seen a fair share of flooding, and more is likely coming. Yet, don’t be too surprised if the answer is NO. However, you should ask your homeowners agent if you can add an endorsement to your homeowner’s policy to cover flooding. ![]() In most cases, the only way to get flood coverage is by purchasing a stand-alone flood insurance policy. Get a quote Does my Massachusetts homeowner insurance cover flooding? A typical Massachusetts homeowners’ policy is written through Farmers, State Farm, Allstate, and Progressive, for instance, excludes flooding as something that will be covered under their homeowner’s policy.
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