Just having spent this week at Mega Relief with thousands of KW colleagues helping muck out houses in Houston, I’ve been thinking more about the importance of having flood insurance. It’s important as part of your overall financial plan to mitigate risks, and having appropriate insurances is critical to forming a healthy long-term plan.
Even in areas where there is risk of flooding, most people don’t have flood insurance, and in Houston, in areas that have never been prone to floods, thousands (millions?) of homes were affected by Hurricane Harvey and all the water it dumped in the area. Does it make sense to have flood insurance if you believe you are in a 500-year flood zone? Up to you.
Here are some good articles to consider: