Flood Insurance
Floods are the number one disaster in the country. If you've lived along the Gulf Coast of Texas for any length of time you have likely witnessed first-hand the devastating effects of severe thunderstorms, tropical storms and hurricanes that can pop up suddenly and bring extended rainfall. Even more inland, drought-prone areas can experience flash flooding when the ground becomes dense and dry. Protecting yourself and your home from flooding is an important and affordable insurance expense, and can save you thousands of dollars should a flooding situation arise.
The National Flood Insurance Program (NFIP) requires that those homes and buildings in high-risk flood areas have flood insurance. These areas have a 1% or greater chance of flooding in any given year, which is equivalent to a 26% chance of flooding during a 30-year mortgage. If you are not in a high-risk flood area, you are not required to have flood insurance, though we highly recommend it!
Using our 60 years of experience within the Texas Gulf Coast region, we can assist in determining what your flood risks are and include that within your personal insurance plan.
Call our experts today at (713) 666-3601 with any questions or to get started with your flood insurance policy!
Still confused about whether or not you need flood insurance?
Here's some more info!
In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding.
What exactly does Flood Insurance cover?
Flood insurance protects two types of insurable property: building and contents. The first covers your building, the latter covers your possessions; neither covers the land they occupy.
Building coverage includes:
- The insured building and its foundation
- The electrical and plumbing system
- Central air conditioning equipment, furnaces, and water heathers
- Refrigerators, cooking stoves, and built-in appliances such as dishwashers
- Permanently installed carpeting over unfinished flooring
- Clothing, furniture, and electronic equipment
- Curtains
- Portable and window air conditioners
- Portable microwaves and dishwashers
- Carpeting that is not already included in property coverage
- Clothing washers and dryers
I don't live in a flood zone, so why should I have flood insurance?
Little do you know, but everyone lives in a flood zone. Flood zones are land areas identified by the Federal Emergency Management Agency (FEMA). Each flood zone describes the land area in terms of its risk of flooding. So, everyone lives in a flood zone - it's just a questions of whether you live in a low, moderate or high risk area.
There are many factors that you should consider when contemplating purchasing flood insurance. For instance, just an inch of water in your home can cause costly damage; and did you know that a car can easily be carried away by just two feet of floodwater? New land development in your neighborhood can also increase flood risk, especially if the construction changes natural runoff paths.
If you live in a moderate-to-low risk area and are eligible for the Preferred Risk Policy, your flood insurance premiums may be as low as $129 a year, including coverage for your property's contents - that's just around $10 a month.
Where can I get an elevation certificate?
Elevation certificates are used to show compliance with your community's floodplain management ordinances as well as assist with determining your flood insurance premium.
You can download the form from the FEMA website by CLICKING HERE