Is flood insurance right for you? Although you may not live near a river or another larger bod of water, flooding still can occur.  And losing all your stuff in your apartment home will ruin your day.  Maybe the city you live in normally has heavy rains that can overwhelm the resources of the city. Bayous overflow and the drainage systems cannot handle the amount of water. Remember that floods create lots of damage and leave behind mold.

We have listed some details that will help you find out if you need flood insurance and whether it may be worth your time and money.

To begin with, its best if you read your entire lease.  Many times there will be certain protections in place that will state the owner/landlord will not have any liability for anything that might include earthquakes, hurricanes, etc.  There are some laws in some states that will even lay no blame on the apartment community even if a water pipe breaks inside the community itself.  Most of the time the lease will have a clause that will release the owner/management company from having to pay any damage that results from a flood.

Now you need to assess the risk you may have from any flooding. Simply visit the site Floodsmart.gov. You will be able to see what type of risk you will have from flooding at the specified address you entered. Also think about what floor of the apartment home your located in. This will be pertinent in regards to insuring your belongings. For example if your own the fourth floor, chances are you will have much less risk than a unit located on the first floor. 

When you begin to get quotes realize that rates will usually vary based upon the amount of risk involved.  As a good rule of thumb, the higher the risk of flooding, the higher your premiums will be. There are also two additional items you need to be aware of when you apply for insurance. 

• The insurance will not protect you if you live somewhere else for a short period of time.   
• There is a 30 day waiting period  before the flood insurance will become active. You simply cannot buy insurance when you know flooding is on the way and expect it to take effect immediately.

Flood insurance is different from renters insurance  Understand that they both are two separate policies.

Read more about leasing apartments in Houston Heights and Houston Downtown apartments.