Thursday, May 20, 2010

A primer on flood insurance

By Robyn Davis Sekula

Your greatest asset is likely to be your home. Protecting it is part of financial responsibility.

Many lenders are now requiring homeowners to get flood insurance - and you need to know about it if your lender does require it. You should consider it even if your lender doesn't. Regular homeowners insurance usually does not cover flooding, and even a few inches of water can cause a lot of damage.

Here's a great article from Investopedia about flood insurance. It's a solid overview, and recommended reading for all homeowners.

http://www.investopedia.com/articles/insurance/10/understanding-lender-required-flood-insurance.asp

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