Flooding is nature's most common natural disaster. The average homeowner is five times more likely to incur flood damage than fire damage. If you live in a high-risk zone, you have a one-in-four chance of experiencing flood damage. Almost 25% of all flood claims come from low- to moderate-risk areas and 90% of all presidential-declared disasters involved flooding. Homeowner's policies may not cover the flood damage, and the out-of-pocket costs can be burdensome.
Flood insurance is designed to provide an alternative to disaster assistance to reduce the escalating costs of repairing damage to buildings and their contents caused by floods. While your homeowner's policy may cover fire, tornado, or even earthquake damage, most EXCLUDE damage caused by flooding. Those that cover SOME flood damage do so by specific endorsement and only for a certain dollar amount. Check with your insurance agent to see what coverage is available.
To learn more about flooding, flood risks, residential coverage, commercial coverage, preparation, recovery, etc., visit our Flood Insurance page.