FLOOD INSURANCE

Just a few inches of water can sink a home in debt

flood damage can be mitigated by coverage from A.R. DavisFloods are the # 1 Natural Disaster in the United States.  Caused by melting snow, heavy rain, traveling storms, accidents, or even ground oversaturation, floods can happen at any time of the year in almost any environment.  Just two inches of standing water can cause tens of thousands of dollars in damages.

If you live on or near a flood plain or in a tropical area and your home has an active mortgage, it’s likely that you’ll be required to purchase flood insurance.  Depending on where your home is located, you may qualify for flood insurance through the National Flood Insurance Program.

What factors determine whether I am required to have a flood insurance policy?

Unlike home insurance, flood insurance isn’t necessarily required for every house or business owner.  When deciding whether to invest in a flood insurance policy, there are several different factors that can help you determine the best course of action.  However, it is worth noting that flood insurance can prevent financial losses from more than just natural weather events- many policies also cover water damage.  Therefore, it is imperative that you speak with your insurance provider before you forgo this protection.  Remember, every policy will be different depending on the provider and the person being insured.

Do I live near a flood plain, river, or body of water?

If yes, you are almost certainly required to have a solid flood insurance policy on your home or commercial building.  Those living nearby lakes, rivers, or other bodies of water are in V and A zones and are rated as Special Flood Hazard Areas, so they must have flood insurance.

 

What if I don’t live very close to any water? Am I still at risk?

X, B, and C zones are areas where the flooding risk is considered minimal. They do not require their owners to have coverage.  However, over 20% of NFIP claims are from homes and businesses located in these moderate-risk areas, making it a good idea to discuss coverage with your insurance agent. D zones are zones where the risk has not yet been assessed. They are also exempt from a required policy.

 

How do I know which zone I live in?

You can check your current status at FEMA’s Flood Map Service Center; however, please keep in mind that some areas are undergoing updated digital mapping and may not reflect an accurate risk read. It is always best to confirm your status with an A.R. Davis agent before finalizing your insurance packages. For further information on risk zones and risk factors, please visit FloodSmart.gov.

 

Is flood insurance required for my area?

Flood insurance is legally required for buildings in high-risk flood areas if the owner wishes to take out a mortgage.  High-risk mapping is updated annually.  You can find out if your area is considered high-risk by consulting the Flood Map Service Center and confirming this status with your A.R. Davis agent.

 

If I am not required to have insurance, is it still a good idea to purchase flood coverage?

Water damage is insidious and can cause serious problems for years– even undermine your entire foundation. It is highly recommended that most home and business owners consider a flood insurance policy, as it only takes a few inches of standing water to cause tens of thousands of dollars in damage and repairs.  To get an idea of how much flooding could cost you, check out the NFIP’s Interactive Flood Damage page.

 

What kind of policies are available? Do they differ between personal and commercial properties?

Homes and businesses in high-risk areas are eligible for special flood insurance coverage from the NFIP. To see if your community participates in this program, visit the NFIP’s Community Status page.

If your area doesn’t qualify for NFIP coverage, you can still purchase flood insurance from many different insurance providers. Contact your A.R. Davis agent to discuss your options.

 

Please note that these parameters are only examples of what the typical customer could expect to receive for this type of policy.  Actual coverage will depend on the provider and the person being insured.  Please talk to your A.R. Davis agent to find out what type of coverage you qualify for.

What is the NFIP, and how can they help?

What is the NFIP?

Congress created the National Flood Insurance Program in 1968 to help home and business owners protect themselves against damages from hurricanes, tropical storms, heavy rains and other conditions that affect many areas of the U.S. The NFIP offers financial coverage to homes, rentals, and businesses if their community follows the program guidelines.

 

What does NFIP coverage typically protect?

Coverage typically spans two categories: building and contents coverage. This usually includes:

1. The building structure and foundation
2. The electrical and plumbing system
3. HVAC equipment such as air conditioners, furnaces, and water heaters
4. Large home appliances such as refrigerators, stoves, dishwashers, washers, and dryers
5. Carpeting installed over unfinished flooring
6. Clothes, furniture, and electronics
7. Curtains

A more exhaustive list can be viewed and downloaded here.

 

How can I know whether my community is eligible for the program?

Participating communities must enforce laws that meet or exceed FEMA requirements to reduce the risk of flooding. You can find out if your area requires flood coverage by determining your risk profile and by researching your Community Status. If your area does not qualify for the NFIP program, you can still purchase flood insurance through many private insurance companies, including A.R. Davis.

 

Where can I learn more about the NFIP?

To learn more about National Flood Insurance, please contact your A.R. Davis insurance agent or visit FloodSmart.gov.

Please note that these parameters are only examples of what the typical customer could expect to receive for this type of policy.  Actual coverage will depend on the provider and the person being insured.  Please talk to your A.R. Davis agent to find out what type of coverage you qualify for.

What can I expect to insure with A.R. Davis?

Not everyone is eligible for federal coverage.  A.R. Davis offers several options for home owners, renters, and commercial property owners who need to protect their buildings or belongings against flood damage.  The exact parameters of your policy will depend on the individual needs and qualifications of the business or person being covered.  Please speak to your A.R. Davis agent to find out what your policy will entail.

flood insurance: extra home protection
flood damage can be mitigated by coverage from A.R. Davis