Flood Insurance Facts

 
*Everyone lives in a flood zone!
 
*You are either in a high risk flood zone or moderate-low risk flood zone
 
*In the U.S., flooding is the #1 natural disaster
 
*25-30% of all claims occur in moderate-low risk flood zones
 
*Flood insurance is not covered by homeowners, business, or other property policies
 
*There is a 30-day waiting period for a flood policy to take effect
 
*Over a 30 year mortgage there is a 26% chance of flooding versus a 9% chance of fire in high risk flood zones
 
*Federal Disaster Assistance – if granted – is a loan that must be repaid with interest
 
*For just $119 a year, insureds can purchase a minimum of $20,000 building and $8,000 contents coverage for their personal property
 
*For just $550 a year, business owners can purchase $50,000 building and $50,000 contents coverage (per building)
 
So how much will a Flood cost you with no Flood insurance coverage?...