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Flood Damage Control: Get Insured

February 8, 2008

Floods do indeed occur anywhere. Not only in coastal areas or as a result of tropical rainstorms. Caused by a range of factors, they may happen in many other areas as well. In the US, floods are the most common natural disaster! Be insured!

National Flood Insurance Program (NFIP)

Established by Congress in 1968, the NFIP is a federal program. This program enables property owners in participating communities to purchase insurance as protection against flood losses in exchange for State and community floodplain management regulations that reduce future flood damages.

NFIP has identified a number of flood risk scenarios. Once you understand your scenario, you can assess your risk, protect plus insure yourself accordingly.

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Which Flood Risk Scenario Applies To You?

I. Winter in the Heartland.
A farm on flat land away from rivers can experience flood in winter or spring when the snow begins toe melt and the frozen ground below the water can not absorb it.

II. It never Rains.
A freak rain in the bone-dry lands of the deserts, say in Tuscan, Arizona, can cause what is called a ‘flash flood’. These floods can undo boulders, damage buildings and structures, and as such can cause massive damage. Flash floods represent real danger for inhabitants: they are the number one weather related killer in the US.

III. Adjacent a New Development
New developments can hinder natural drainage as less land is left to absorb the rain water. Even though rains might cause floods lasting only a couple of hours, thousands of dollars of damage can be done in this short time span.

VI. Living near a Dam
Unusual rain falls cause dams to break and flood the land surrounding it. There are 74000 dams in the US, according to a 1994 survey of dams. Almost 1/3 pose a significant risk to life and property if they collapse.

V. Storm in a Port
Inland floods from tropical storm rains can last for days. They cause major damage to communities living hundreds of miles from the coast.

To determine risk factors for specific properties, insurers often refer to topographical maps that denote lowlands and floodplains that are susceptible to flooding.

Next step: Insure

Don’t be part of the 1/3 of U.S. heads of household, who still hold the false belief that flood damage is covered by a standard homeowners policy. It isn’t. Private insurance companies tend to omit flood insurance, because floods are such a ’sure thing’. That’s why the government established the National Flood Insurance Program.

It goes without saying that the safest and surest way to protect you and your property from a flood is to have a sound flood
insurance. With this, you will recover your expenses in case you suffer a flood. For wallet and your peace of mind, consider.

By Van Dorst, copyright 2008

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Written by Van Dorst · Filed Under Flood Insurance, Homeowner's Insurance 

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