Friday, August 3, 2012

Understanding Flood Insurance Risks

Flood risk is such a generalized term. But insurers cannot generalize about any risk – it’s their job to be specific. An excellent place to find good information about how flooding and flooding risks are defined is www.floodsmart.gov, the official NationalFlood Insurance Program site.
Granted, flooding can happen almost anywhere, but there are particular areas, which are especially susceptible to raised water troubles. Risk areas can be broken up as follows: high-risk, moderate-to-low risk, and undetermined-risk regions.

High-risk areas have at least a 1% chance of flooding every year. If you do the math, this equals a 26% chance of flooding over the life of a typical 30-year mortgage. In these regions, every homeowner with federally regulated or insured lenders is required to purchase flood insurance.

Moderate-to-low risk regions are outside the 1% annual flood risk floodplain. Flood insurance isn’t required for these places, but it is highly recommended. “Undetermined” risk areas are regions where no flood-hazard analysis has been commissioned.

Perhaps you’re new to the area you live in and don’t really know what to expect when the rains come. The best way to find out the level of your flood risk is to have your insurance agent perform a risk profile.

If you’d like further information about flood insurance or your need coverage, contact a customer service representative for information and a quote.


2 comments:

  1. Great Web site! I wondered if I could site some of your web page and use a few things for a school assignment. Please drop me an email whether that would be fine. Thanks
    Yacht Insurance Southern California

    ReplyDelete
  2. We docked factors for on-line slots with poor buyer assist. Since you won’t be enjoying in} in a brick-and-mortar on line casino, you want a buyer assist group that’s all the time available everytime you may need particular issues together with your on-line slots. We’ve seen sites with extra slot games than Wild Casino, however that’s not to say the positioning doesn’t have extensive selection|a wide variety} of high-quality games. Although their on-line slot choice additionally be} smaller than others, their graphics are fairly stable. If the spectacular on-line slot choice doesn’t draw 카지노 you in, Las Atlantis has some fat bonuses which maintain their gamers hooked.

    ReplyDelete