Is there really a need for flood insurance?

Just a few inches of water from a flood can cause tens of thousands of dollars in damage.  Over the past 10 years the average flood claim in the United States has amounted to over $33,000.  Flood insurance is the best way to protect your investment from a devasting financial loss since typical homeowners’ insurance does not cover property loss from a flood.  Nearly 25% of all flood insurance claims come from moderate to low risk areas.  Flood insurance is available to homeowners, condominiums owner/renters, and commercial owners/renters.  Costs vary depending on how much insurance is purchased, what it covers, and the property’s flood risk.

Show All Answers

1. What is the Federal Emergency Management Agency?
2. What is a Floodway?
3. What is a floodplain, and what is a flood?
4. What is the National Flood Insurance Program?
5. What is a Flood Insurance Rate Map? What is the importance of a Special Flood Hazard Area and what are flood zones?
6. What is the probability of flooding within a 100-year floodplain?
7. Is there really a need for flood insurance?
8. My house is in a Floodplain? What do I need to do?
9. Who has to buy Flood Insurance?
10. What is a Preferred Risk Policy? Can this save property owners money?
11. What is an elevation Certificate?