Flood Insurance

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Do Not Add To Your Anguish

You have never seen rain like that in your neighborhood. Trees—thick trees—toppled on top of houses; stinking, filthy floodwater outside up to your ankles; rancid sewer water inside turning your stuff into sodden, wretched, worthless junk.

Three things: It happened so fast. This area had never been flooded before, ever. And three, you have no flood insurance.

Enormous Loss

Do not let yourself ever be placed in this position. Starting with a home displacement for an indefinite period of time to the enormous replacement costs, you have too much to lose.

In fact, loss due to flooding can be very expensive. A rule of thumb is that each inch of flooding will cost the unprotected over $7,000. The last thing you need are worries on how to pay for the flood damage. You do not want to add the anguish you already feel.

“But I don't live in a flood zone.”

Extreme weather can and will happen. Floods and flash floods can occur all over the state. Hurricanes are the most severe natural events that will drive destructive flood waters into your home, but they are far from the only danger. Torrential rains, clogged sewer drains, soaked grounds and snow melt will contribute to catastrophic flood emergencies.


The Flood Insurance Program

The flood insurance program is actually run by the US Government as part of the Federal Emergency Management Agency (FEMA). They set the rules and the rates and allow several private insurance companies to write the policy on their behalf. The premiums are set by FEMA based on the property location and amount of coverage requested. Properties are located in various “zones” and can be classified as being in a “special flood hazard zone” or in a regular non-hazard zone. Obviously the closer the dwelling is located to a body of water the greater the likelihood that it is in a “special flood hazard area”. Flood insurance premiums are higher if a property is located in a special flood hazard area.

If you are purchasing a home in a flood hazard zone, chances are good that the lending institution supplying your mortgage will require flood insurance, minimum to the amount of the loan. People paying cash for their home are not required to obtain flood insurance but we would strongly recommend it.

Homes not near the water will likely be considered to be not in a flood hazard area. These properties can still purchase flood insurance at surprisingly inexpensive rates. In many instances a preferred policy is available for under $400.

All municipalities maintain flood maps and can tell you which flood “zone” your property is located in. Homes located in special flood hazard zones may be eligible for significant discounts based on the finished elevation of the dwelling and the type of foundation. In short, the higher the elevations of the structure off the ground, the less likely the chance of flood damage and the lower the insurance rate.

We can review the “flood zone” in which your home is located, determine the structure and foundation type and review some coverage options and deductibles with you. Each of the members of our protection team are well versed in giving you the best coverage possible at the least expensive price.

When you can minimize risk from flooding for such a small cost, you have to do it. You have to protect your family and your assets. Contact Joyce, Jackman & Bell Insurors to discuss Flood protection today.

Flood Insurance Inquiry

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