Do I Need Flood Insurance Coverage? Exploring Reasons to Buy Flood Insurance

Did you know that floods are the number one natural disaster in the United States? With thousands of people being displaced each year due to catastrophic flooding, knowing what to do in the event of a flood to protect your property and your loved ones will potentially save you months of heartache and thousands of dollars after you clean up the refuse that Mother Nature left behind.

Flood Insurance Shouldn’t Be an Afterthought

Many consumers don’t give a thought to the need for flood insurance until it’s too late. We have all been guilty of reacting after a disaster or emergency when we’re left to clean up life after a catastrophe. Knowing how to protect ourselves ahead of time will be critical to protecting your family and property in times of need. Flood insurance should not be an afterthought, and as most of the United States is at risk for flooding during one or more seasons of the year, it pays to seek coverage before disaster strikes.

Reasons Why You Should Seek Flood Insurance

Floodsmart.gov cites that there are several reasons that you should consider purchasing flood insurance to protect your home, your assets, your family, and your future. Consider these reasons why picking up a comprehensive policy will help you breathe easier next time storms roll in.

1. Floods Are the Number One Natural Hazard in the United States

National weather service statistics report that floods and flash floods can occur in all 50 states. That means that no matter where you are located, you are at risk for incurring damages to any home or business that you own in U.S. territory. Most homeowners’ policies do not have flood insurance as a built-in coverage option; you must ask for this additional coverage as you seek full protection of your assets.

2. Twenty Percent of all Insurance Claims are Related to Flooding

Flood plains are constantly changing; Mother Nature is not discriminating when it comes to taking out entire neighborhoods after heavy rainfall. As you never know when rainfall amounts are going to be too much for current storm sewers to handle, it’s best to procure protection before you need it.

3. You’re More Likely to Experience Flooding than Fire as a Homeowner

According to the NFIP, homeowners are 27 times more likely to experience flooding rather than a fire during their 30-year mortgage period. With these statistics, it’s only a matter of time before you’ll need to call your insurance company with a claim that will cover any damage incurred, provided you have the right protection.

4. Land Development May Cause Flooding Issues in the Future

New land development and construction are always changing our current landscape. These changes can create alterations in natural runoff paths and water pathways, putting your home at increased risk for flooding and damage.

5. Even Small Amounts of Water Can Do Significant Damage

Even an inch of water can do significant damage to your home and property. Even more alarming is the fact that a mere two feet of water can completely sweep a car away. Flash flooding can produce 10–20-foot walls of water traveling at very fast speeds. Just imagine the level of catastrophic damage that can be done in these situations! Protect your assets, your loved ones, and gain peace of mind with a policy that covers these unforeseen disasters.

6. Rains and Hurricanes Are Not the Only Cause of Flooding

A host of natural disasters contribute to flooding including mudslides, winter storms, and fast melts of ice and snow that the ground cannot keep up with. Inadequate drain and sewage systems and failed levees and dams are also sources of unforeseen water damage. As you never know what might occur next, seeking proactive protection is the best measure to prevent loss and injury.

7. Waiting for Federal Disaster Dollars is a Pain

While Federal disaster assistance is available, those dollars are treated more like a loan than a benefit to you. A $50,000 loan wouldn’t cover much to start with, and it’s going to cost you about $250 per month for 30 years, or as long as you own your home. Paying for a flood insurance premium is cheaper, and you are not locked into terms that you may or may not be able to handle.

8. Coverage is Affordable

A home in a low to moderate-risk area of the country could qualify for a preferred policy for as little as $250 per year. This is a very small price to pay, considering the peace of mind you stand to gain from knowing that you are protected when you need it most.

9. Additional Coverage is Available

While the NFIP’s flood policies provide coverage up to $250,000 for residential properties, Neptune Flood covers up to $4,000,000. You’ll likely experience a much more significant loss than the NFIP’s limits if you live in a high-risk flood zone, however. Make sure that you have the money you need to rebuild by purchasing enough coverage, taking the burden of financing off your shoulders.

We’re Here to Help!

At Neptune Flood, we know just how valuable your home and family are to you. These precious assets should be protected at all costs, and that’s why we’ve combined cutting-edge technology with the best plans in the business to provide affordable coverage that gives you peace of mind in times when you need it most. Don’t wait till the last minute to protect your future; begin with a customized plan from Neptune Flood today and put yourself on the path to financial freedom and security once more. Contact us today for a quote and see just how easy the process can be.

Original article published April 2018. Updated content and references February 2022.