Your home in Houston, TX is subject to natural disasters. The state of Texas holds six out of twelve world records when it comes to rainfall rates. It is only a matter of time until your home experiences flooding that leads to damage. The agents at Insurance Over Texas can thoroughly explain how flood insurance works in the Lone Star State. Use this guide to determine how much insurance you may need.

Is flood insurance required?

The city of Houston participates in the National Flood Insurance Program (NFIP), which provides an affordable option for homeowners in need of coverage. Those living in high-risk flood zones are required to purchase flood insurance under the NFIP if they have mortgages owned by the federal government. Those living outside of high-risk zones should also consider buying a plan.

How much flood insurance can you get? 

The NFIP offers a maximum of $250,000 worth of home insurance coverage to buyers. There are other ways to insure your home if its value exceeds such a limit. The amount of flood insurance you may need, though, depends on several factors.

How much flood insurance do you need in Houston, TX?

The value of your home is the first factor that you should consider when determining how much flood insurance to buy. You should also consider your personal possessions. Those with valuable items should consider more insurance coverage as it may be difficult to replace items lost in the flood with $250,000.

The average homeowner pays about $700 annually for anywhere from $100,000 to $250,000 worth of flood insurance. Your rates will depend on many factors, which are not limited to the location of your home as well as the probability of flooding. Call an agent at Insurance Over Texas today to get started with your customized flood insurance plan.