Facts About Flood Insurance

Dated: 09/19/2017

Views: 98

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

FACT: Homeowners and renters insurance does not typically cover flood damage.

FACT: Floods can happen anywhere--More than 20 percent of flood claims come from properties outside the high risk flood zone.

FACT: Flood insurance can pay regardless of whether or not there is a Presidential Disaster Declaration.

FACT: 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. FEMA offers disaster grants that don't need to be paid back, but this amount is often much less than what is needed to recover. 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 SBA--and you don't have to pay it back.

FACT: You may be required to have flood insurance. Congress has mandated federally regulated or insured lenders to require flood insurance on mortgaged properties that are located in areas at high risk of flooding. But even if your property is not in a high risk flood area, your mortgage lender may still require you to have flood insurance.

Flood insurance helps more: Check out your state's flood history with FEMA's interactive data visualization tool. Roll your cursor over each county to see how many flooding events have happened. The tool allows you to compare how much FEMA and the U.S. Small Business Administration have provided in terms of federal disaster aid after Presidential Disaster Declarations to the amount the National Flood Insurance program has paid to its policyholders. It's easy to see that having flood insurance provides a lot more help for recovery.



Information is from https://www.fema.gov/national-flood-insurance-program

Blog author image

Jenny Rutherford

Meet Jenny Rutherford Jenny Rutherford Real Estate, LLC. Where did you grow up? I grew up on a farm at the base of the Blue Ridge Mountains in Virginia. I've lived in several states, including Virgi....

Want to Advertise on this Site?

Latest Blog Posts

Entire Rental Portfolio FOR SALE In Midway GA

Lyman Hall Portfolio For Sale in Midway, GAGreat Investment Opportunity!$7300 Potential Monthly IncomeOffered at $485,000The Following Addresses areIncluded in the Portfolio Sale:Homesite

Read More

Sep 28 2018 39800 1

OPEN HOUSE THIS SATURDAY! 11AM-3PM! 317 W Charlton St. Call Lily or Susan for more info! 912-224-1244 or 678-862

Read More

317 W CHARLTON OPEN HOUSE SATURDAY

JOIN US AT 317 W CHARLTON FOR AN OPEN HOUSE THIS SATURDAY!FROM 11AM-3PM!FOR MORE INFO CALL SUSAN 678-862-4376 or Lily 912-224-1244!SEE YOU THERE! ;

Read More

SEE YOU SATURDAY AT 257 PAMPAS DR

OPEN HOUSE ! THIS SATURDAY (9/22) FROM 11AM-3PM AT 257 PAMPAS DR!CALL SUSAN FOR MORE INFO! 678-862-4376!;

Read More