There has been a lot of information in the media about
changes to the National Flood Insurance program. Remember
that standard homeowners insurance policies do not cover damage from flooding.
Mortgage companies require flood insurance if you are in a
high risk zone, but not if you are in a low risk zone. While it may not be required, we strongly encourage our clients to retain
this valuable insurance protection. Every
year we seem to be breaking weather records.
Won’t you rest easier knowing that if there is a severe weather event
you are properly protected? Remember
there is generally a 30 day waiting period for flood coverage to take effect,
so if you do not have coverage and want to purchase it when you think you need
it, you may not be able to get it.
Statistics show that 25% of flooding occurs outside areas
formally designated as being flood prone.
Here are some interesting facts we thought you would like to
know about flooding:
- Floods are the most common and widespread of all
natural disasters outside of fire
- 90% of all presidential-declared U.S. natural
disasters involve flooding
- Floods occur within all 50 states (they can
occur anytime, anywhere)
- Communities particularly at risk are those in
low lying areas, coastal areas, or downstream from large bodies of water.
- There is a 26% chance of experiencing a flood
during the life of a 30 year mortgage (more than 6 times the likelihood of a
- Even minor flooding can cost homeowners
thousands of dollars in losses and repairs
- Six inches of water will reach the bottom of
most passenger cars – causing loss of control and possible stalling.
- A foot of water will float many vehicles.
you know the difference between a flood watch and a flood warning? A watch says
flooding is possible, a warning means flooding will occur soon.
If you have any questions about your flood insurance
coverage, or if you do not have this extremely important coverage and are
interested in learning more, please contact us.
You may also want to visit the government’s website which has more
information about flooding and the National Flood Insurance program. To visit the site click here.