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Each year, more properties within flood plains are destroyed by flooding than
by fire. Changing weather patterns, increased urban development, and the
leveling of forests have reduced the land's natural ability to absorb water.
As flooding becomes a common occurrence, property owners need to fact the facts
-- Everyone lives in a flood plain. Flood damage can happen anytime, no
matter where you live.
A Homeowners Policy Doesn't Cover Flooding
Property owners know a Homeowners policy covers fire damage, but most don't
realize that it won't cover flood or mudslide damage. Rising waters and
debris can destroy your home, business, and personal belongings within minutes.
If you don't have the coverage, you have nowhere to turn for help.
Federal Assistance is Difficult to Obtain
Most floods don't qualify for federal disaster aid. Only floods that are
declared national disasters by the President qualify for federal assistance.
This assistance is in the form of a grant averaging less that $2,500, or a
federal loan that must be paid back with interest. That loan is in
addition to payments on your existing mortgage loan.
Flood Damage is a Growing Problem
As more flooding occurs throughout the country, the cost of rebuilding is
skyrocketing. Floods now cause more the $2 billion in property damage each
year. That's your tax money being used to help thousands of flood victims
across the country. There is an answer -- Flood Insurance.
Flood Insurance Puts You in Control
Only Flood insurance protects your home and your belongings from rising water or
mudflow. Flood insurance is available for the structure, minus the land
value. Contents coverage is also available, but is optional and must be
requested. Even if you've had previous flooding, you can still buy Flood
insurance. If you've received disaster assistance before, you must first
obtain Flood insurance to be eligible for future federal relief. Mortgaged
properties within Special Flood Hazard Areas are required to maintain Flood
insurance for the life of the loan.
Flood Insurance Costs Less than Flood Damage
The average Flood policy is only $324 a year - that's less the $1 a day.
Compare that to a typical disaster load of $50,000, costing more that $300 a
month for over 18 years! Flood insurance pays all covered claims even if a
federal disaster is not declared. Claims are paid quickly so victims can
recover faster. You can even get a partial payment right away to get
started. Flood coverage is available up to $250.000 for you home, and up
to $100,000 for the contents.
Flood Insurance Is Easy to Buy
Anyone can buy flood insurance if his or her property is located in a community
that participates in the National Flood Insurance Program. Homes, condos,
apartments, and business structures are all eligible. Even renters may
purchase flood insurance for their possessions. Since Flood premiums are
set by the US Government, your rate is the same from any insurer. Premiums
are due on a annual basis.
Don't Wait for Disaster to Strike
Over 90 percent of all US natural disasters include flooding. The best
time to buy flood protection is now. Flood insurance claims are paid by
policyholder premiums, not taxpayer dollars. Flood insurance is the best
way to protect yourself and reduce the cost of flood disasters, There is a
30-day waiting period on most new Flood policies, so contact us now for more
details.
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