Anyone that has lived along the Gulf Coast knows…. Summer means 1.) Heat, 2.) Sporadic Rains and 3.) Hurricane Season.
The damage caused by a Tropical Storm, Tropical Depression, and/or Hurricane can be devastating. In area in Texas and Louisiana, it is common for many, specific, areas to flood however, as recent storms have proven, no property is safe. Damage caused by flooding is not covered by homeowners insurance or commercial property insurance. You must carrier flood insurance to protect your property and belongings.
The Insurance Journal recently published Stephanie K. Jones, article “Whether Public or Private, Flood Insurance is a Must, Experts Say”, in their July 6, 2020 edition (CLICK ON THE LINK TO ACCESS THE ARTICLE).
While many people expect flooding to only occur in “flood prone areas”, recent flooding in Houston and Baton Rouge occurred in areas that were deemed outside of the flood zone. As Jones notes “Of the more than 200,000 homes that flooded during Hurricane Harvey, three-quarters of them did not have flood coverage.”
The National Flood Insurance Program (NFIP) is not the only option. There are many types of coverage options available and often, a private insurer can offer lower rates than NFIP or provide more robust coverage than NFIP offers.
Keep in mind…… The average loss per property for flood is $45,000 however, the average loss from Hurricane Harvey in Texas was $117,000 per property. Flood insurance is cheaper than you think. Want more information? Call our office at 800-362-2809 or visit our website (CLICK HERE FOR FLOOD INFORMATION)