Who needs flood insurance?
If you live in an area where it rains, the importance of flood insurance cannot be overstated. Even if you believe your home is safe from flooding, just one inch of floodwater can inflict approximately $25,000 in damage. This staggering figure serves as a stark reminder that flooding can happen anywhere, often when you least expect it. Flooding is the most common and most costly natural disaster in the United States.
Everyone needs to consider having flood insurance.
Understanding the Risk of Flooding
Many people tend to think that flooding is only a concern for those living in high-risk areas or near bodies of water. However, history has shown us that floods can occur in any region, regardless of geographical location. Heavy rainfall, rapid snowmelt, or even broken pipes can lead to water entering your home. The aftermath can be devastating, and the financial burden can be overwhelming, especially if you aren’t properly insured.
Federal disaster grants provide, on average, about $5,000 per household – while the average flood insurance claim payment over the past five years was about $69,000. If you don’t have flood insurance…YIKES.
The Cost of Flood Damage
Let’s break down the numbers. According to FEMA, an inch of floodwater can lead to around $25,000 in damages to your home. This amount covers everything from waterlogged carpets and damaged appliances to structural issues that may not be immediately visible. Unfortunately, standard homeowners’ insurance policies do not cover flood damage, which is why having an additional flood insurance policy is crucial.
Myth: I don’t need flood insurance if I live in a low-risk area.
Fact: Anywhere it can rain, it can flood. About 40% of flood insurance claims come from outside mapped high-risk flood areas.
- With higher temperatures and other climate change impacts, more severe and unpredictable storms are increasing the flood risk in many areas.
- Development, wildfires, and other changes that increase runoff also increase flood risks, even when a property is not close to a stream or body of water.
Don’t Wait Until It’s Too Late
The time to think about flood insurance is not when you see rain clouds gathering or, worse, when water is seeping into your home. By then, it’s too late to take proactive measures. Flood insurance policies can take time to activate, and if a storm is imminent, you may find yourself without coverage during a critical moment. Being proactive about your flood insurance means you can protect your home and your finances.
How We Can Help
At our Holley Insurance, we understand the local area and your specific flood insurance needs. Let us check your coverage and ensure that you are adequately protected against the risks associated with flooding. We can guide you through the policy options that best suit your needs, ensuring that you have peace of mind when the storms roll in.
Conclusion
Don’t leave your home’s safety to chance. If it rains where you live, having flood insurance should be a priority. With just one inch of floodwater capable of causing significant damage, the stakes are too high to ignore. Reach out to us today to discuss your options and make sure you’re covered properly. Protect your home and your family from the unexpected—because when it comes to flooding, it’s better to be safe than sorry.
Give us a call at 540.334.4225 if you’d like us to review your policies and provide you with a flood insurance proposal.
