You’ve probably seen the news over the past few weeks about the flooding along the Mississippi River. First upriver, now in Memphis, and then in Mississippi and Louisiana. Now we're seeing flash flooding in parts of the midwest.
Well, you should know that flooding is not only an issue for those living near the water, but a common loss for many areas of the country. Here are a few facts from the National Flood Insurance Program (NFIP) regarding flooding:
- It’s the most common and costly natural disaster in the United States.
- Flash floods, inland flooding and seasonal storms can bring flooding to almost any area.
- Over 20% of all NFIP claims come from areas that are not in high risk flood zones.
So you’re probably asking, why is this a concern to me? The answer is simple. The Homeowners’ Policy or Renters’ Policy doesn’t cover losses from flood. The same is true of the standard property policy for commercial businesses. So if flooding is a concern in your neighborhood, a flood policy through the National Flood Insurance Program (NFIP) might be right for you to supplement your Homeowners’ or Renters’ policy. For businesses, it may be possible to endorse flood coverage onto your existing policy, or purchase a separate policy to provide flood coverage.
The flood maps in many areas of the country have been updated in the last few years, and areas that were on not in flood zones are now considered to be in low to moderate flood zone areas. This applies to several areas in Fairfax County in Northern Virginia.
With the spring rains here, and hurricane season starting (which is when much of the local flooding occurs), is it time for you to consider flood insurance? Call or write us and we can get you a quote, and explain what’s covered under the flood policy.
Charlie Venus cvenus@jsinsurance.com