Flood Insurance

Even if your home or business is located away from water, you may still need Flood Insurance. Homeowner and Business Insurance policies exclude flood coverage.  Groundwater flooding can cause damage to buildings on higher ground many miles from a body of water.  Often - but not always - groundwater flooding will meet the definition of a flood under a policy issued by the National Flood Insurance Program.  Over 20 percent of flood insurance claims originate from areas that are not considered  high flood-risk areas.  Affordable flood insurance protection is available and can be an important component of a sound insurance program.

FEMA (Department of Homeland Security) offers the following:  "... you can live miles away from water and still be a victim of flooding.  On average, 25-30% of flood insurance claims come from low to moderate risk areas.  That's partly because it doesn't take a major body of water, or even a major storm, to cause a flood.  Anything from a broken sewer line to a slow-moving rainstorm can cause flooding.  Bottom line, your home has a 26% chance of being damaged by a flood over the life of a 30 year mortgage."

In most circumstances, a flood policy takes 30 days from date of application to effective date of coverage.  Don't wait.  For more information visit www.floodsmart.gov. 

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