Should you always invest in flood insurance?

[Wayne]

I live in an area that rarely floods, but the possibility of it happening is still there, even though it's quite rare. Do you suggest that everyone who gets home insurance, that they also include flood insurance on the list. Even though it most likely won't happen to me, there's always a chance that it could happen, and if I'm not covered, I would have to pay out of pocket for repairs.

 

[Kevin]

If it's not that much more expensive for your plan, I would get it. It's usually better to be safe than sorry, and I think there is always a risk of flooding, even in areas that rarely flood.

I wouldn't risk it to be honest. I'd rather pay the extra bit to have the reassurance.

 

[Dennis]

With the spate of natural disasters happening around the world presumably due to climate change, it wouldn't be surprising if certain places which have never been under flood threat gets flooded like how we witnessed in Germany, which was unprecedented. So it is always better to insure against natural calamities like floods, which may not cost you much as an add on. It's a very unpredictable world and always better to be prepared for the worst than be sorry later.

 

[maxrealestate]

Certain states charge way more for flood insurance and some don't even offer it. I would say that unless you live in an area that can take on a lot of water and the land can easily become flooded, not to worry about it. Unless you can get it added on for a small extra charge, I wouldn't worry about it.