Many people live under the mistaken impression that if they do not live in an area that isn’t designated as a high-risk area for flooding, that they aren’t at risk. That is hardly accurate. According to the National Flood Insurance Program, more than 20 percent of all flood claims filed with NFIP are for homes flooded outside of high-risk areas. That doesn’t even take homes that do not have flood insurance through NFIP into account. What this means for you is that your home isn’t necessarily safe from floods because you live in a low or moderate risk area. These are a few other facts you need to know about your risks when it comes to floods.
Floods have Many Causes
Floods occur for many reasons. Dams break. Levees are breached. Hurricanes and tropical storms bring incredible surge. Snow melts. Heavy rains happen. Construction occurs. Storm drains get blocked. Sudden heavy downpours. You get the picture.
These and countless other reasons can lead to floods that come into your home and wash everything away in blink of an eye or, perhaps even more painfully, become trapped inside your home taking weeks and weeks to drain destroying your treasured photographs and memories one minute at a time.
Homeowners Insurance Does Not Protect Against Floods
You cannot rely on your homeowner’s insurance policy to provide protection for your home or possessions from flood-related damage. This includes, in many cases, wind-driven storm surge that is often specifically excluded from coverage. You will need to buy a specific flood insurance policy to cover the costs of repairing or rebuilding your home and replacing your possessions in the aftermath of a flood.
Floods Affect More than Buildings and Inventory
Because floods are so widespread, the affect more than buildings, contents, equipment, and inventory. Whether you are a home or business owner it is important to look beyond the basics when considering the best way to protect your space. Floods can leave an entire region under water and making repairs for hours, days, weeks, or even months. Make sure you have a plan in place to cover alternative living arrangements while your home or office space is uninhabitable. That is why it’s so important to work with an insurance agency you trust when securing floods insurance – whether it’s for your home or your business.
Flooding is the most common and widespread of all natural disasters to occur in the United States according to the National Severe Storms Laboratory. Make sure you understand the facts, your coverage, and what to do when the unthinkable happens.