Why You Should Consider Flood Insurance for Your Homestead

I have been reticent to complain about the over-abundance of rain we’ve been getting in the Mid-South lately for a handful of reasons:

1. Too much rain is better than not enough rain,
2. Rain is much better than ice, and
3. I can’t complain about the rain here when I see the rain in Texas.

The flooding in Texas reminds me of when this area experienced significant flooding a few years ago. We live on a hill and were mostly unaffected by the floods, but my coworkers at the time experienced terrible flooding in their home. The biggest problem for them wasn’t that their home was damaged, however — it was that they had no flood insurance. They, like many people, were not aware that home owner’s insurance does not always cover flood damage. The last thing anyone wants to find out after experiencing damages or losses due to flooding is that there is no financial safety net to help pick up the pieces, but unfortunately for many that becomes reality.

Floods aren’t at the forefront of most people’s minds, except perhaps those who live in very flood-prone areas or lowlands. Depending on where you live in the U.S., you may experience more tornadoes, hurricanes, ice/snow storms, droughts, or even earthquakes (hello, California!) than major flooding. Because of this, you may not have considered getting flood insurance or finding out whether flood damage is covered by your insurance. If you live up on a hill like my family, you may not even need it!

But floods can happen anywhere, as Texas has reminded us the past couple of weeks. All it takes is for the right weather conditions to come together at the right time to cause massive damage to property. For homesteaders, those losses can have even more impact. In addition to damages to homes and vehicles, homesteaders can also experience damages or losses of farm equipment, hay, gardens, livestock, livestock feed, and other homestead structures such as barns.

It’s always a good idea to be prepared for the unexpected. As homesteaders we’re already ahead of the game because we don’t rely as heavily on others to provide for us. However, it’s easy to forget about taking precautions such purchasing flood insurance.

If you’re property isn’t covered by flood insurance, talk with your insurance agency to find out if a policy is right for you. That way if the rains come down and the floods come up, you’ll be protected.

It also might not hurt to buy a boat. 🙂

Cheers