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Don't wait until it's too lateAug 13 '00 Write an essay on this topic.When I bought my house, I didn't think twice about buying flood insurance. I grew up in Florida, where hurricanes are an annual fact of life. Flood insurance can mean the difference between getting back on your feet or losing everything. In the United States, flood insurance is a Federally-sponsored program that makes comprehensive flood damage affordable for homeowners. With flood insurance, most of your losses, if not all, will be covered. Losing your home can be devastating. Your possessions may be gone, but they are only things. What's most important is providing for your family. With flood insurance, you can get temporary housing quickly. You'll have the opportunity to rebuild your old home or just move to a new location. You'll have a good chance to get on with your life. If you live an area where floods can happen, do not wait until the last minute to get flood insurance. My home butts up against a 100-year flood plain, and my realtor thought I was being a little paranoid to get flood coverage. But I know that flood insurance usually takes 30 days to go into effect from the time you apply for the policy. Your insurance agent can best help you get the coverage you need if you work with her well in advance of your needs. Once you talk with your insurance agent, you will discover that flood insurance is not expensive, but it can be a significant fraction of your current homeowner's premium. If you wonder whether the flood premium is worth it, always remember that standard homeowner's insurance does not cover flood damage. If your home is damaged or destroyed in a flood, and you don't have flood insurance, your only real hope is for the Federal government to offer low-interest loans to help you rebuild.  |
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