In or Out of the High-Risk Flood Area, Everyone Needs Flood Insurance

In the wake of Hurricane Harvey in 2017, nearly half of all flood insurance claims were for properties located outside high-risk flood zones-for properties that, on flood maps, are shown to be at low -to -moderate flood risk.
Did you know?…

✓ Floods are the nation’s most common and costly natural disaster and cause millions of dollars in damage every year.

✓ Homeowners and renters insurance does not typically cover flood damage.

✓ Floods can happen anywhere–more than 20 percent of flood claims come from properties outside the high-risk flood zone. Check out The Big Cost of Flooding, at www.fema.gov/media-library/assets/documents/132744.

✓ If your property is in a low-to-moderate flood risk area, your flood insurance could be much more affordable than you might think.

✓ Flood insurance can pay regardless of whether or not there is a Presidential Disaster Declaration, at www.fema.gov/disaster-declaration-process.

✓ Most federal disaster assistance comes in the form of low-interest disaster loans from U.S. Small Business Administration (SBA) and you have to pay them back.

✓ A claim against your flood insurance policy could, and often does, provide more funds for recovery than those you could qualify for from FEMA or the U.S. Small Business Administration after a disaster declaration–and you don’t have to pay it back No homeowner or renter can afford not to have flood insurance. Call your insurance agent and buy a policy today. If your community participates in the NFIP, you can buy flood insurance for your property. There’s typically a 30-day wait period between when you purchase the policy and when it becomes effective. Discuss this and find questions to ask to ensure you get the coverage you need, at www.fema.gov/national-flood

Article from Professional Insurance Agents of Wisconsin, March 2019