When an area is designated as a flood zone, many entities may require you to have flood insurance. Flood insurance is necessary for every home that’s in a flood zone, but it’s also needed for homes outside of these zones. The Homeowners Association (HOA) is just one entity that might require you to have this insurance, just as some mortgage lenders would require it if you live in a flood zone. To be in a flood zone, you may have as little as a 1% chance of flooding, but that’s enough to make it imperative that you get this coverage. Call us at Birdsong Agency Inc. in Snellville, GA to get started.<\/p>\n
A flood zone measures areas’ likelihood of flooding in any given year. They are marked with the number of years that could be expected between floods, such as 25 or 50 years. If your home is in one of these zones, you may have several requirements that apply to you. Getting certain mortgages in these zones requires flood insurance. An HOA will likely require it as well. This protects the neighborhood from flooded and abandoned homes because the cost is too high to fix. In some cases, the HOA would want to have its name on the policy as well as yours in case it needed funds after a flood.<\/p>\n
It’s unlikely that an HOA would require flood insurance outside of a flood zone. However, it’s still important to have this insurance. Any area can flood, and it doesn’t only happen inside the designated zones. Without flood insurance, a flood can be a financial catastrophe. Avoid this by keeping your home covered.<\/p>\n
Call us at Birdsong Agency Inc. in Snellville, GA to get started.<\/p>\n","protected":false},"excerpt":{"rendered":"
When an area is designated as a flood zone, many entities may require you to have flood insurance. Flood insurance is necessary for every home that’s in a flood zone, but it’s also needed for homes outside of these zones. The Homeowners Association (HOA) is just one entity that might require you to have this […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[13,18,11],"class_list":["post-112","post","type-post","status-publish","format-standard","hentry","category-flood-insurance","tag-birdsong-agency-inc-2","tag-flood-insurance","tag-snellville-ga"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t