| | Flood When considering flood insurance it's important to keep in mind that 25% of all flood losses happen in low-risk areas. If your home is in a low-risk zone, you may qualify for a preferred risk rate. You might be surprised by how inexpensive flood insurance can be.
Call us today for a free, no obligation  quote and zone/risk determination. It's important to know that if you have a federally backed mortgage on a home located in a high-risk area, federal law requires you to purchase flood insurance. Also, if you've received a federal grant for previous flood losses, you must have a flood policy to qualify for future aid. Here's how "flood" is defined by the National Flood Insurance Program: "A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property). What is a flood?- Overflow of inland or tidal waters; or
- Unusual and rapid accumulation or runoff of surface waters from any source; or
- Mudflow; or
- Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above."
So, in plain English, a flood is an excess of water (or mud) on land that's normally dry. You don't have to live near water to be at risk of flooding. A flash flood, can strike anywhere without warning, occurs when a large volume of rain falls within a short time. Dangerous or damaging floods don't always mean dramatic, rushing waters through the streets of your hometown. Just a single inch of water can cause costly damage to your home! |
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