Protecting Your Family with Flood Insurance
Protecting your property before a disaster is so important. Storms can bring heavy rain, high winds and flood damage. Proper flood insurance protection can make all the difference in your restoration process.
What is Considered a Flood?
An event that causes water to cover at least two acres of land that is normally dry or has caused water damage to two or more properties. The water the causes the damages must have come from an overflowing inland source or tidal waves; unusual, rapid accumulation or runoff of surface waters from any source, mudflow (mud carried by a flow of water creating a river of mud) or when a shorefront land collapses or sinks due to waters above “anticipated cyclical levels.” Water that comes from sewer overflows, drain backups or a sump pump failure is not considered a flood.
Do I need Flood Insurance?
From 2011 to 2015 the average residential flood claim was nearly $43,000. If you live in a high-risk flood area, you are five times more likely to be affected by flood damage than fire damage.
Knowing the risk level of the area you live in is important in determining if you need flood insurance. It is important to note that standard homeowner’s insurance DOES NOT cover flood damage. Homeowner’s insurance will cover your roof being ripped over by a storm but not any damage that occurs if your riverbank overflows. There is a difference between storm damage and flood damage.
The most common flood insurance is offered through the federally regulated program, National Flood Insurance Program. Insurance rates are determined by the amount of coverage purchased, location, age of building, occupancy, design use and elevation level. *Helpful tip-don’t wait until an impending storm to purchase insurance.* There is usually a 30-day waiting period.
National Flood Insurance Program
This covers your actual home up to $250,000 and your personal property up to $100,000. If you desire more coverage than that, you will need to purchase excess flood insurance from a private company or insurance agent. The average flood insurance cost is between $600-$700 annually. The federal flood insurance is required for all buildings located in Special Flood Hazard Areas (high-risk flood areas) as determined by FEMA . Property owners and renters can purchase the this insurance if they are outside of these areas as long as their community participates in the national flood program. This insurance program covers that cost to rebuild the home or the actual value of your home (whichever is less).
Some household items are not covered by the Federal Flood Insurance Program. Likewise, certain items need extra safety precautions like waterproof storage or other insurance policies. *Have an inventory of your possessions prior to a disaster to make filing a claim easier.
Note: If you make four or more flood claims for more than $5,000 each or two claims that, added together, cost more than your home, NFIP will “offer” you a grant to make your home less vulnerable to floods. If you refuse to take the grant money and make the improvements, your policy payments will probably increase substantially.
Safety Tips to Consider
- When flooding is expected, stay away from creeks, streams and rivers.
- NEVER drive through flooded roads – they may be washed out.
- Passenger cars may float in only 18-24 inches of water.
- Be cautious at night when it is harder to recognize dangers
- Just 6 inches of fast moving water can knock you off your feet.
Reliable Restoration is Always Here For You
Disaster can happen whether you have insurance or not. If your home suffers from flood damage, call Reliable Restoration. We provide 24/7/365 disaster restoration services. Visit us at: www.choosereliable.com or contact us at: (678) 325-1633. Remember at Reliable Restoration, your family is our family.
