Flood Insurance

Flood Insurance Coverage is for Everyone!

According to the Federal Emergency Management Agency (FEMA), flood is the number one natural disaster in the United States. Flood is defined by FEMA as “”a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow.”” Flood coverage, however, is not offered by the standard homeowner’s policy so it is necessary to purchase flood insurance to protect your property from damage by flood.

Who Can Purchase Flood Insurance?

Anyone can purchase insurance against a flood, even if the possibility of flood seems to be remote. For example, you can purchase it if you live on the side of a mountain that is ordinarily arid. Flood can be caused by:

Overflow from a nearby river or stream
Heavy rain seeping into your basement or lower story
A heavy rain or flash flood causes the hill or mountain behind a structure to cascade water into the home or building.

If you live in an area that is particularly prone to flood such as within a mile of the Gulf Coast, you can still get flood insurance.

If a Heavy Rain begins, May I Purchase Insurance Against a Flood?

Yes, you can buy it, but it won’t take effect for thirty days. Contact your insurance agent and determine if you need this type of insurance as part of your yearly insurance checkup. Don’t wait because there are factors that can cause flooding that most people don’t examine. The following things can make your area more prone to flooding:

Road Construction
New Shopping Malls
New Residential and Industrial Complexes

Add these to the normal causes of floods:

Hurricanes (or Tornadoes)
Early Snowmelts
Rising Rivers

A flood may be in your future and, if you’re in a high-risk area, failure to acquire insurance can affect your ability to get disaster-relief loans. Be sure to check with your local agent about this type of coverage in addition to your homeowners or renters policy.