According to the Wall Street Journal, out of the estimated 1.7 million claims from Hurricanes Irma and Harvey in 2017, one-third of those claims were closed without payment due to homeowners not having flood insurance and being underinsured for their homeowners insurance.
Remember that flash floods can happen any time. Most homeowners believe they are only at risk if they live on the coast or a designated flood zone. We know from extreme weather, this is not always the case. As mandated by FEMA, flood policies take 30 days from signed date to be effective for existing homes.
Increasing policy limits if you build an addition on your home or do a major upgrade to your kitchen is important to do so that you are not underinsured. For more information, check out the link to the article in the Wall Street Journal.