Just an Inch of Water…
by Sarah F. Derstine, CISR

Over the past several years, we have seen the devastating effects flood waters can have in a community. The average Hurricane season runs from June 1 through November 30, but flooding can take place any time, anywhere. According to www.floodsmart.gov, a flash flood can strike anywhere without warning and you do not have to live near water to be at risk of flooding.

Every property is located in a flood zone; whether it is a low hazard or high hazard zone.

Builders are placing roads, buildings, and parking lots where forests and meadows used to be, which decreases the land’s natural ability to absorb water. This construction has made recent floods more severe and increased everyone’s chance of being flooded.

Flood Facts:

• General flooding conditions happen in all 50 states
• Homeowners insurance does not cover damage from general flooding
• Just an inch of water can cause damage to your property
• Hurricanes, winter storms, and snow melt are common causes of flooding

Flood Statistics:

• About 4.9 million people currently hold flood insurance policies in more than 21,000 communities across the U.S.
• Your home has a 26 percent chance of being damaged by a flood during the course of a 30-year mortgage, compared to a 9 percent chance of fire damage.
• The National Flood Insurance Program awarded nearly $16 billion in flood claims in 2005.

Congress dictates the rules and regulations of the National Flood Insurance Program. You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program.

It takes 30 days after purchase for a policy to take effect, so it’s important to buy insurance before the floodwaters start to rise.

Call FIFS at 1-800-332-4141 or 267-384-5300 to discuss whether flood insurance is right for you.

FIFS Connection, Fall 2006, Vol.3, No. 4