Flood Insurance

Cost of Flooding

Just a few inches of flood water can cause almost $8,000 in damages to a home.  In fact the NFIP awarded over $16 billion in flood claims in 2005.  Just last year about 25% of all claims paid by the NFIP were for policies in moderate-to-low risk communities. 

Causes of Floods

It’s true, floods are more common in coastal areas but tropical storms are not the only cause of floods.  According to FloodSmart.gov, floods are the most common natural disaster in the US.  Flood sources include:

• Snow Melt
• Flash Floods
• New Development
• Dams/Levees
• Tropical Storms

What You Should Know About Flood Insurance

• If you live in a moderate-to-low risk area and are eligible for the Preferred Risk Policy, your flood insurance premium may be as low as $119 a year, including coverage for your property's contents.
• You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program. Check the Community Status Book at www.fema.gov to see if your community is already an NFIP partner.
• It takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the floodwaters start to rise.