Storm
protection
Be
prepared during hurricane season — June 1
through Nov. 30
High
and dry might sound like a pretty good place to
be during a hurricane, but it’s the very last
place you want to be stranded with your
insurance coverage.
According
to FEMA, flooding is the most common natural
disaster in the United States, yet a Wall Street
Journal Online article states that only about
one quarter of homeowners in the highest-risk
areas nationally purchase flood insurance. Here
are some flood facts that can keep your head
above water:
- Many
homeowners wrongly assume their standard
homeowners policy will cover them in a
flood.
- Between
eight and 11 million homeowners live in a
designated flood zone, yet only
approximately 4.4 million carry federal
flood insurance.
- Almost
25 percent of flood insurance claims are
paid to victims living outside an
established flood zone and in zones labeled
low-to-moderate flood risk.
- Only
“flood” insurance protects you from
“flood” damage.
- The
average flood insurance policy premium
averages just over $400 a year.
- A
home mapped in a high-risk area is five
times more likely to suffer damage from a
flood than from a fire.
- It
takes 30 days after purchase for a policy to
take effect, so it’s important to buy
insurance before the threat is imminent.
For
more information about flood insurance, check floodsmart.gov.
