If you lived in Texas or Louisiana the past couple of years, you have been affected by Flooding. Wither you experienced a direct loss or know someone that had, we can all attest to the devastation and disruption these storms have caused.
Watching the news, I witnessed many people upset with their insurance company because they thought it would be covered by their homeowners insurance or that the government would step in and provide assistance to those affected. Homeowners insurance does not cover flood damage and it requires a separate policy. The Federal Emergency management Agency (FEMA) does not rebuild flooded homes. If you qualify, they may provide a low interest loan however, if the home is not your primary residence, this assistance is not available.
Flooding from the Tax Day storms and Hurricane Harvey reached unprecedented levels. Areas that were not prone to flooding, flooded. In fact, most of the areas that were flooded, were not in flood zones.
Flood zones will change, based on the recent events and if your property is mapped in a flood zone, you will be required, by your mortgage company, to purchase flood insurance. Flood insurance is based on the elevation of your property and if you are zoned in a flood zone, the cost will be more than if you are not in a flood zone.
For the most part, flood insurance is inexpensive. A policy for a property outside a flood zone, averages around $450 per year. ( Visit our website http://www.getagreatquote.com/research-center/flood-insurance for rates). Since we live on the Gulf Coast, it is not a matter of “IF” another storm will hit but rather, “WHEN” a storm will occur so a flood policy is a great value and worth the peace of mind.
If you would like to discuss flood coverage options, please contact our office at 281-448-3040. Misty, Edlin and Rosalinda are our flood experts and can answer your questions. As always, we appreciate your relationship with our agency and if you need anything, you can call me!