After Hurricane Harvey, Houstonians saw first hand that they didn't need to live in a flood zone to be impacted by floods. Floods and flash floods can occur anywhere. Just an inch of floodwater can cause up to $25,000 in damage. Flood insurance provides protection against floods, even if it's not declared a federal disaster.
Unfortunately, homeowner insurance doesn't cover floods. Flood insurance is provided by National Flood Insurance Program (NFIP) and is managed by the Federal Emergency Management Agency (FEMA). Regardless of which insurance agent provides the policy to you, it is through NFIP. There is a 30 day waiting period before your flood insurance policy goes into effect after your application and premium payment are submitted.
Flood Insurance covers the following incidents as "floods":
Water has to cover at least 2 acres of land that’s normally dry, or has to have damaged two or more properties (one being your home)
Water comes from:
Overflowing inland or tidal waters
Unusual, rapid accumulation or runoff of surface waters from any source
Mudflow (that’s mud carried by a flow of water, creating a river of mud)
Note: Water and seepage that comes from a sewer, drain backups, or a sump pump that overflows is not considered a flood. This type of coverage can be included in your homeowner insurance policy.
We highly recommend exploring flood insurance before hurricane season takes place for your region because of the one month waiting period. Give us a call and we can help you determine if you're in a flood zone area and need flood insurance.