BASIC FLOOD FACTS
Did you know your home has a 26% chance of being damaged by a flood during the course of a 30-year mortgage, compared to a 9% chance of fire?
- Floods and flash floods happen in all 50 states.
- Everyone lives in a flood zone.
- Most homeowners insurance does not cover flood damage.
- If you live in a low-to-moderate risk area and are eligible for the Preferred Risk Policy, your flood insurance premium may be as low as $119 a year.
- It takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the flood waters start to rise.
- Last year, one-third of all claims paid by the NFIP were for policies in low-risk areas.