Part of being a responsible property owner involves insuring your assets. You will need a homeowner’s policy for your residence and commercial property insurance if you’re a business owner. To round out the protection of your properties, you should also strongly consider purchasing flood insurance policies. We at the Soto Insurance Agency can help all Covington, LA residents who are seeking those plans.
Homeowner’s and commercial property insurance policies typically don’t protect against flooding. Your plans may have protections in place for water damage caused by burst pipes and other accidents, but floods are typically exempted.
If you don’t have flood insurance, your properties are exposed to significant risk whenever storms are passing in your area. One particularly powerful storm passing through Covington, LA could be enough to ruin the real estate assets you’ve worked so hard to obtain and maintain.
This type of coverage can protect your home from the often extensive damage caused by flooding. You can also lean on this policy if the possessions you kept inside your home sustained damage due to the floods that ran rampant in your area.
The protection flood insurance provides is critical to keeping your real estate properties safe. Make sure you have those policies in hand so you can avoid a potential financial disaster.
Are you required to purchase flood insurance in Louisiana? That depends on where your properties are located and how you purchased them.
Generally speaking, individuals who purchased properties using mortgages that are either insured or federally regulated will have to get flood insurance if the properties in question are located in high-risk flooding areas.
You should still consider purchasing flood insurance even if you live in an area that is designated low-risk for flooding. Given how common flooding is in Louisiana, having that extra layer of protection is always welcome.
Keep your properties adequately protected by getting flood insurance. We at the Soto Insurance Agency offer that policy to all Covington, LA residents. Get in touch with us today and take a step closer to securing your new plan!
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