Do You Need Flood Insurance?
Tuesday, October 23, 2018
At least 90 percent of natural disasters that occur in United States involve flooding. Therefore, if you are wondering whether you need flood insurance, then yes, you do need it. Even though many believe that floods are dangerous for people living in a flood zone — the area most likely to be affected by a flood — that is not true. Even if you are not located near a river or a lake, you still face the risk of being affected by a flood.
Further, natural disasters are not always responsible for floods. You might find your home flooded because of broken levees and dams, damaged water mains, or even cracked tanks and towers. Hence, it is essential to buy flood insurance. While you can’t stop a flood from filling your house with water, you can take measures to reduce the financial and physical risks that you might incur after the flood.
Flood Facts That Will Make You Rethink Flood Insurance
All the statistics mentioned above provide enough proof that flood insurance is very crucial.
- From 2012-2017, the total flood insurance claims have averaged $4 billion a year.
- Flood claims have become more common in all states because of a flash flood or flood
- A few inches of water can cost thousands of dollars in damage. The damage from just one inch of water can cost up to $20, 000 to a homeowner. Flash floods are between 120 to 240 inches high. Just imagine the overall cost of that!
- Only six inches of water is needed for a man to be knocked over by water, and only 12 inches is needed for the cars to be swept away.
- If you reside in a 100-year floodplain, your home is at a 1% risk of being flooded every year. Houston has been devastated by at least 3 floods in the last 3 years.
- If you live in a house worth less than $250,000, than the costs of damage, which you will incur because of the flood, will be more than the value of your house.
- In the last 5 years, all 50 states have experienced flooding.
Benefits of Flood Insurance
Now that you know that flood insurance is necessary, it is important to understand what the benefits of flood insurance are.
Even though the government does offer federal disaster assistance, flood insurance is necessary. Flood insurance will ensure that the costs of damage are offset. CKASH Insurance, for instance, service and issue these policies. They also service your claim if your insured property has been damaged.
An insurance policy will ensure that you do not lose out on your property’s worth. This type of insurance will ensure you are well taken care of despite the loss of your personal belongings.
Hence, if you want to know more about flood insurance or its quota, contact CKASH Insurance. We will listen to what is important to you, help you identify the risks, and create a plan for you.
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