UPDATED: Mar 19, 2020
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Flooding can occur anytime or anywhere within the United States. Just because you’re not directly next to a body of water or in a flood zone does not mean that your home is not at risk of being damaged by floods. About 25% of all flood claims submitted to insurance companies come from locations that are not considered to be “high risk”. Almost all homeowners insurance policies exclude flooding requiring those who want flood insurance to get additional coverage.
Since most insurers don’t provide flood insurance within a standard homeowners insurance policy, the government stepped in and created the National Flood Insurance Program (NFIP). Since 1968, this program allows homeowners in participating areas to purchase insurance protection to cover the costs incurred from a flood.
Below are some statistics regarding flooding in the US:
- Floods are the #1 natural disaster in the U.S.
- Flooding occurs in all 50 states
- Flood damage is not covered by most standard homeowners insurance policies
- As little as an inch of water can cause significant damage to your home
- The average loss from a flood is about $48,000.
- Flood insurance is affordable insurance
To get flood insurance, your best bet is to contact a local insurance broker that can provide you with free quotes and can help you determine which policy is best for your needs. Don’t wait until it’s too late, if you’re home is at risk of flooding, get a flood insurance policy today.