Important Facts About Flood Insurance

  • 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.

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