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- Homeowners Insurance does NOT cover flood damage.
- All 50 states have experienced floods or flash floods in the last 5 years.
- 25% of flooding occurs outside areas formally designated as being flood prone (Special Flood Hazard Areas).
- In high-risk areas, there is at least a 1 in 4 chance of flooding during a 30-year mortgage.
- Just a few inches of water from a flood can cause tens of thousands of dollars in damage.
- Flood insurance is relatively inexpensive. The average premium for $100,000 coverage is about $300 per year.
- It normally takes 30 days for a policy to take effect. So it’s important to buy insurance before a storm approaches.