Who needs to have flood insurance in Louisiana?

The Baton Rouge, LA area can be a great place to live. When you live here, you can enjoy all of the local amenities that the city has to offer. While there are plenty of benefits of owning a home here, there are some risks as well. One way that you can mitigate some of the risks that come with living in this area is by getting a flood insurance policy. There are several situations when you will need this insurance. 

Those Living in Flood Zones with Mortgage Requirements

The first scenario when you may need to have flood insurance is when your home is located in a flood zone. If your home is located in a FEMA-designated flood zone and you have an FHA mortgage, you will be obligated to carry flood insurance at all times. Most of the time, you will also need to have your flood insurance payment escrowed on a monthly basis. 

Those Wanting to Protect Home

Even if you are not required by a mortgage lender to carry flood insurance, you could still be at risk that your home could be damaged by floodwaters. If you are concerned about this risk or live near a river, lake or another waterway, looking into flood insurance could be a good idea. Since flood damage is likely not covered by your base home insurance policy, flood insurance is a great addition to your insurance plan. 

As you are looking for flood insurance in the Baton Rouge, LA area, you may find that picking a policy can be complicated and confusing. If you need help in choosing a new policy, you should reach out to Insurance & Financial Services Inc. The team at Insurance & Financial Services Inc. can help you to pick a policy that will protect your home from flood damage.