Flood and Earthquake Insurance – You can obtain flood insurance as a homeowner OR a tenant (renter), and you MUST have this insurance if you live in a designated flood zone. 

However, flooding can occur in other areas as well. 

If you live, or plan to live, in an area near large ponds or creeks, or a mountainous area with run off, you may want to consider flood insurance for seasons with high precipitation. 

This coverage has a 30-day waiting period, so be sure you apply for coverage in plenty of time, so your insurance is effect when you move in. 

You can purchase additional flood insurance above what would be covered under federal law, and we would recommend that you do so if you are in high-risk flood zones. 

Here is the first myth we will debunk:  Flood Insurance is only for those who live in obvious flood zones

If you live in a designated flood zone, you can and must buy Flood Insurance.  However, even if you think the area in which you live is not a flood zone, check with your insurance agent. 

There are areas that are not near levees, damns, oceans or rivers and yet are still eligible for flood insurance because of high water table, swampy areas or low-lying land where water will pool. 

Earthquake insurance is also a separate policy from your homeowner’s policy.  You will need this in areas that are high risk for earthquakes (California in particular). 

The deductible is high, but this insurance WILL protect you from losing everything and even if you have to pay that deductible, your coverage will ensure that you can replace some or all of your possessions and your home in the event of a catastrophic earthquake.