Flooding is the most common and costly natural disaster in the United States causing billions of dollars in damage each year. And, it often happens in low- and moderate flood risk areas. The decision whether or not to buy flood insurance should not be based on a line on a flood map. Last year’s hurricane season should remind us that disasters can happen anywhere, and often without warning.
The fact is, a flood event doesn’t have to be the size of a hurricane to cause serious damage. According to the Federal Emergency Management Association (FEMA), 98 percent of U.S. counties in every state have experienced a flooding event. Flood risks can occur along rivers, oceans, streams, neighborhood retention basins, and even man-made issues related to land development. And, just one inch of water in a home can cause more than $25,000 in damage!
Unfortunately, most business owners, homeowners, and renters typically don’t buy flood insurance. Don’t become a flood loss statistic by falling into the trap of these common myths:
• My property won’t flood if it didn’t in past weather events.
• I’m not in a flood zone, so I can’t get flood insurance.
• Flood coverage is unnecessary because individual disaster assistance from FEMA will cover my losses.
FEMA research shows that individuals who have flood insurance recover more quickly and fully after a flooding event than those who don’t. Flood insurance is essential for financial protection and peace of mind. Call your insurance agent, reach out to the National Flood Insurance Program Help Center at 800.427.4661, or go to www.FloodSmart.gov to learn more about how to buy flood insurance.
Remember, you can’t control the weather, but you can prepare for it. Be aware and prepared.