There can be a lot of upkeep when you own property and, sometimes, these costs may seem unnecessary. And while most property owners recognize the importance of purchasing homeowner’s insurance, they may not realize just how important flood insurance is.

In fact, you might assume that homeowner’s insurance covers flood damages, but that’s far from the truth. Read on to learn the facts about flooding in Texas and why you need flood insurance coverage. 

Understanding Flood Risks in Texas

Texas has unique geography and regions of the state that are at high risk when it comes to flooding. Some critical facts about flooding in Texas include:  

All these facts point to the importance of flood insurance, especially if you live in a flood zone. 

Homeowner’s Insurance Versus Flood Insurance

Homeowner’s insurance covers your property and any structures on it, typically paying out for property damages or possessions that are lost or stolen. While this form of insurance is a necessity for homeowners, you should also understand that it does NOT cover flood damage. 

Flood insurance extends your coverage to damages caused by flooding to your home or property. This includes expensive items that are within the home. 

Do Your Research

It’s important to note that if your property is in a high-risk area, you will pay more for flood insurance. 

Additionally, if you’re trying to be proactive, you can check the flood history for the property before starting the buying process. Typically, MLS listings may include this information, or you can talk with the seller to disclose flooding or draining issues. 

You should also be aware that waterfront properties are at an incredibly high risk of flooding, so you may need to pay a year’s fees upfront to obtain coverage. 

Santa Cruz Properties: We Have Owner-Financed Property for Sale

If you are looking to buy a property for sale in Edinburg, Santa Cruz Properties is here for you. We can help connect you with owner-financed properties to make buying land affordable. Contact us today to get a head start.

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