Wren Insurance Agency Blog

All You Ever Wanted to Know About Insurance

Flood Insurance Facts

Now that we are officially in hurricane season (which started June 1), it is time to review some Flood Insurance Facts:

  • Floods and flash floods happen in all 50 states.
  • Everyone lives in a flood zone.
  • Homeowners insurance does NOT cover flood damage.
  • Just an inch of water can cause costly damage to your property.
  • A car can easily be carried away by just two feet of floodwater.
  • New land development can increase flood risk, especially if the construction changes natural runoff paths.
  • Low-to-moderate risk areas account for over 20% of all National Flood Insurance Program claims and receive one-third of disaster assistance for flooding.
  • If you live in a low-to-moderate risk area, you may be able to insure your home and posessions for flood damage for as little as $200-$400 per year.
  • If you live in a high-risk area, your home is more likely to be damaged by flood than by fire.
  • Typically, it takes 30 days after purchase for a policy to take effect, so it's important to buy insurance well BEFORE the floodwaters start to rise.
  • Since 1978, the NFIP has paid over $36.9 billion for flood insurance claims and related costs (as of 12/31/10).
  • Over 5.5 million people currently hold flood insurance policies in more than 21,000 communities across the U.S.

Questions on flood insurance? Please comment or contact us!


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