Things happen when we least expect it. Flood damage can just happen to us and we have no idea when. It can happen to anyone. That is why there are companies offering flood insurance quotes to customers just in case this tragedy happens.

Through the NFIP or the National Flood Insurance Program, these insurance companies can provide their clients with the assurance that they are insured just in case of flood. (more…)

Check your home. If your plumbing fixtures and floor drains are below street level, there is a possibility of flooding even in your own home. If there is water damage due to heavy rain storms, sewer back-ups, or snow melt are not covered by home insurance policy.

The solution to these unavoidable problems is flood insurance. If you do not live in an area that has a designated flood zone by the FEMA, it is smart that you go out there and get one. But of course you have to consider the flood insurance cost.

Generally, flood insurance policies do not take effect in less than a month. It will only start after 30 days upon application. The premium payment that is indicated in the cost must be purchased because this is a necessity. (more…)

Hurricane season starts June 1st – November 30th and FEMA reports that everyone in Harris County lives in a flood zone. Even if you haven’t flooded before, someone floods for the very first time every time there is a flood. Changes in residential building and infrastructure changes the run off of water that you may not be aware of. As little as a few inches of water and cause repairs such as replacing all the flooring, up to 5 feet high of sheetrock and insulation, plus the cost of fans to prevent mold growing as most insurance policies don’t cover mold.

-Everyone lives in a flood zone. (For more information, visit floodsmart.gov
-Most homeowners insurance does not cover flood damage.
-Just an inch of water can cause costly damage to your property.
-Flash floods often bring walls of water 10 to 20 feet high.
-A car can easily be carried away by just two feet of floodwater.
-Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
-New land development can increase flood risk, especially if the construction changes natural runoff paths. (more…)

A vast number of flood insurance policyholders are unaware of the discount Community Rating System (CRS) offered through the National Flood Insurance Program (NFIP) by FEMA; specifically, created to give participating communities direct discounts on policyholder’s premiums.

One designation of the FEMA created CRS was to be used as an incentive program for communities around the nation to participate with the NFIP in order to take a more proactive stance against potential flooding within certain flood zones, as well as, an over all aggressive approach to floodplain management.

There are full compliance eligibility requirements for communities to be accepted and verified as a participant and which are regulated by FEMA.

The CRS is based upon a credit and classification system. There are 10 different classifications and every community starts with a Class 10 rating. From there, the community begins to gain credit points based on 18 different activities. (more…)

When considering the cost of flood insurance, first and foremost, you need to weigh its potential cost versus the potential cost of being uninsured. The discrepancy would be astronomical. Most American’s could not afford to rebuild their lives out of their own pockets if their home was destroyed by a flood. That is the purpose of flood insurance; to defer the cost of picking up the pieces after a devastating flood.

The cost of insurance varies from area to area. If you live in an area with a low risk for flooding, your insurance rates are going to be much lower than if you live in a high risk area plagued by hurricanes or flash flooding. According to many surveys, as of 2009, the cost of insurance premiums vary from less than $350 annually to upwards of $3000, depending on the predetermined flood risk in your area. While this cost may seem prohibitive to some, you need to take into consideration that you couldn’t possibly rebuild a destroyed home for anywhere near even the highest end of the flood insurance spectrum. (more…)

This Information about the 4WD area (all Currituck County areas north of Corolla proper) on the Outer Banks of North Carolina is being provided to help consumers avoid making a mistake when purchasing real estate.

Flood Insurance Availability

There is no NFIP flood insurance available to any owners in the 4WD area. NFIP is the public, cheap, easy-to-obtain federal/FEMA flood insurance available to owners everywhere else in the entire Outer Banks, except for one small section of Hatteras Island and also the tip end of the Villages at Ocean Hill subdivision in the Corolla paved road section.

Flood Zones

The entire 4WD area is a COBRA Zone (Coastal Barriers Resources Act) in which the federal government doesn’t want any development of any kind, but cannot prevent it. The three 4WD areas are Swan Beach, North Swan Beach and Carova, and each has federal preserve land between it and the next section, hence the lack of paved roads.

The flood insurance situation is key because ALL federally-backed or -insured mortgage lenders require owners to carry flood insurance if the dwelling lies fully or even partially within any FEMA flood zone other than zone X. Flood zone X is the highest elevation within the entire Outer Banks regional federally-designated flood hazard area. (more…)

Damage from a flood is NOT covered on your home insurance policy!

Facts about floods:

- Floods and flash floods are the most common natural disaster, occurring in all fifty states
- One third of all flood insurance claims are generated outside areas considered flood-prone.
- Just a couple inches of water can do thousands of dollars of damage to a home
- One in five adults were not sure whether flood damage was covered in their standard homeowners policy
- You do not have to live near water to suffer a flood loss
- Floods can be caused by many things such as heavy rain, melting snow, inadequate or overloaded drainage systems, dam or levee failure, hurricanes and more.
- Every year, flooding causes more then $2 billion of property damage in the U.S.
- Everyone lives in a flood zone
- Your home has a 26% chance of flooding as opposed to the 9% chance of fire during the course of a typical 30 year mortgage
- A flood is defined by FEMA as – A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:

- Overflow of inland or tidal waters,
- Unusual and rapid accumulation or runoff of surface waters from any source, or
- A mudflow ; defined as A river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water or
- The collapse or subsidence of land along the shore or a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above. (more…)