Think you don’t need flood insurance

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2 min read · Nov 15, 2019

Think you don’t need Flood Insurance?

Every state and 98% of the nation’s counties have experienced a flooding event. Still, only 4% of U.S. residents have flood insurance and only 40% of the A or V zones (FEMA designated as high risk) are insured. Why aren’t more people buying flood protection? Mainly because homeowners believe one of these myths:

Myth # 1 My house isn’t in a “flood zone” or My lender doesn’t require it

The truth is about 80% of Hurricane Harvey victims did not have flood insurance, mainly because their flooded homes were not in A or V zones, so they were not required to buy it. With 75% of FEMA maps outdated (some as old as 1983), this just isn’t a reliable indicator of risk. 25% of all flood claims occur outside of high risk (A & V zone)areas.

Myth # 2 I have a homeowners policy, so I am covered

The truth is homeowners and renters policies do not cover flooding. Customers need a separate flood policy to cover flooding events.

Myth # 3 If it ever happens, FEMA will bail me out

The truth is a federal disaster must be declared before FEMA assistance becomes available. If a declaration is made (occurs less than 50% of the time), the “bailout” is usually in the form of a lowinterest disaster loan, which must be repaid. Some families also rely on grants which, if provided, are not enough to cover losses. Harvey victims who were lucky enough to navigate the grant bureaucracy got an average payout from FEMA of $4,300, while the average Harvey loss was $116,823.

Choose the Protection You Need

It takes less than 2 minutes to get a flood quote with Neptune. You can even buy extra coverage for temporary living expenses and replacement cost on your personal property. Get what you need to protect your home and family. The average flood loss over the last 3 years was $73,960.