Source:


Deaton Investment Real Estate & The Wake County Apartment Association



Friday, September 9, 2011

Flood Insurance

Most landlords I know dread the annual (or monthly) insurance bill. While they recognize the protection insurance provides, they doubt they will ever need it and pay little attention to the policy details. Additionally, most property owners never consider getting flood insurance unless their property is in a flood area and the lender requires it. After all, it just adds to the cost.

Well, after Hurricane Irene and the flooding witnessed in the Northeast, it might be time for property owners to re-think their position on flood insurance. After all, flooding can happen almost anywhere if enough rain hits the ground and the typical drainage system fails.

I would encourage you to read through the National Flood Insurance Program website to educate yourself. For as little as $10-$20 a month you can insurance small rental properties against flood damage if they are in low-to-moderate risk areas.

No comments: