Before you answer “no” and add, “Why would I need that?” or “I don’t live anywhere near a river!” you should know that many home and business owners have offered similar responses and then gone on to suffer uninsured flood damage.
Before you decide not to purchase flood insurance, you owe it to yourself to learn some facts:
- A little water can cause a lot of damage. According to the FEMA-sponsored website FloodSmart.gov, only 3 inches of water in a 1,000-square-foot, slab construction home can result in damages of over $11,000! Put that 3 inches in a finished basement and the cleanup costs alone can run you more than $5,000.
- You don’t need to live on a riverbank to get flooded. Many floods occur far away from a body of water. Water flowing down an incline, pooling in a low-lying area or unable to enter a blocked storm drain can find its way into your home or building.
- Flood insurance can be inexpensive. If your home lies outside the floodplain and has a slab foundation, you can purchase enough coverage to pay for your cleanup costs and minor repairs for as little as $129 a year. Homes with crawlspaces or basements will pay only slightly more.
Don’t go unprotected against flood damage without learning the facts about the risks and your options. Be informed. Be protected. Contact our office to talk about flood insurance.