The recent hurricane destruction from Helene and Milton has everyone talking about flood insurance. After all, Houston, TX has had its fair share of hurricanes in Harvey and Beryl. When Harvey hit the area, 80% of residents did not have flood insurance. So, you may wonder if getting flood insurance after a flood or hurricane strikes your home is wise.

Can You Buy Flood Insurance Immediately After Flood Damage?

If you purchased flood insurance from Heydari Financial Group after discovering flood or hurricane water damage, it will not help you. Flood insurance in Houston has a waiting period. The gap isn’t as large as that of government flood insurance, but there is one. Their waiting period is 30 days; ours is two to three weeks. The waiting period exists to prevent situations like this.

It will cover upcoming flooding issues, but flood insurance will not help cover expenses in your current flooding situation.

Are There Exceptions to the Rule?

There is one exception. If your mortgage company requires flood insurance, the policy will skip a waiting period and kick in immediately.

What Can You Do in the Meantime?

Without flood insurance, you must rely on other insurance policies to cover the damage. It won’t cover everything, but exhausting your resources could ease some stress. Contact your auto insurance company for vehicle damage, and use your health insurance for injuries. There’s a 50/50 chance homeowner’s insurance could help you with home damage. If you have additional insurance with us, we will evaluate your policy and discuss your options.

Heydari Financial Group sympathizes with Houston, TX residents who need assistance now. We always encourage our customers to get flood insurance at least 30 days before the hurricane season begins. It kicks in at the start of the season to safeguard against water damage. For more information on flood insurance, contact us.