Physicians, possibly more than any other profession, can appreciate the mitigation of risk in their daily lives. When it comes to their homeowners insurance, however, many leave their coverage on autopilot and only deal with the details of their policy when something goes wrong. Well, you don’t have to be a meteorologist to note that weather is getting more extreme. One in 100-year storms seem to be creeping in every decade. And if water damage from mother nature does significant harm to your home, she will also do significant harm to your savings.

According to Rose Romaine, AAI, ACSR, CIIP, AAI-M, an insurance account executive with Karl Weidel Insurance, “It’s a common misconception that you only need flood insurance if you live on a high-risk flood zone. True, your mortgage broker will require the purchase of flood insurance if you are in a special hazard flood plain, but the purchasing of flood insurance is still a good investment even if you are not forced into buying it.”

A rule of thumb is that if it rains where you live, then there is always the possibility of flooding. According to every property is vulnerable to flooding. Water is a sinister threat to the home. It can destroy property and create hazardous living conditions after the fact. Remediation of water damage can cost tens of thousands of dollars and you will probably have no recourse if you don’t have flood insurance in addition to your homeowners policy. reminds homeowners that even when the government pays out federal disaster loans or grants it is often not enough to cover the scope of the flood damage. The average flood insurance claim in 2018 was $40,000 compared to the average disaster grant, which was $5,000 per household.

The cost of flood insurance by comparison can be reasonable. As explained by, the premium for your flood insurance is calculated based on your flood risk, the type of coverage you want, the deductible, the location of the dwelling, the design and age of the structure, and the location of household features such as the utilities.

Take the time to speak to an insurance representative with recent coursework on flood insurance assessment and implication. Flood insurance is like any other insurance; you don’t need it until you need it.