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Who Needs Flood Insurance?

Who needs flood insurance on their property?

Isn’t this covered in my insurance?

The answer is that everybody may need flood insurance at some time or another.  Most people may not realize that floods are not usually covered under property coverage. A flood is general defined as any rising water or overflow of a body of water from surface or tides or overflow. ; a lot of water in the wrong place is disastrous.

Unfortunately most property owners do not consider purchasing flood insurance unless they are in an actual flood zone as determined by FEMA maps.  While this is a good place to start most owners should evaluate the risk themselves.  Here are some thoughts on flood needs.

  • Floods and flash floods happen in all 50 states.
  • Most homeowners and commercial property insurance do not cover flood damage.
  • Just a few inches of water from a flood can cause tens of thousands of dollars in damage.
  • Flash floods often bring walls of water 10 to 20 feet high.
  • A car can easily be carried away by just two feet of floodwater.
  • Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
  • New land development can increase flood risk, especially if the construction changes natural runoff paths.
  • In most cases, it takes 30 days after purchase for a policy to take effect, so it’s important to buy insurance before the storm approaches and the floodwaters start to rise.

If you think you may need flood coverage even if you are not in a flood zone, it is very easy to obtain a proposal and review of your flood exposure situation.

For more details on this subject, contact Ramey King Insurance at 800-453-9691.