Flooding is the most common natural disaster in the state of Virginia. It is strongly recommended that you obtain flood insurance for your property whether you’re located in a low/moderate risk or high risk area.
If your home is in a low flood hazard zone designated by FEMA and has little or no flood loss history, you could be eligible for a preferred risk policy. For higher flood risk areas, your policy rate is calculated on the flood zone, age and type of home, and the coverage that you choose, more often than not you are able to get the coverage you need from a standard flood insurance policy.
Consider these points if you think you may not be at risk:
- Approximately 25% of flood insurance claims come from low-risk areas.
- Flooding occurs in every state and may occur at any time of the year.
- Federal disaster relief is available only if a federal disaster is declared – this happens in less than half of all floods. Flood insurance pays for your covered losses even without this federal declaration.
- Federal disaster relief is usually a partial recover that comes as a loan which includes monthly payments that may be more expensive than the average annual flood premium.
Make sure you are protected in the event of a flood causing damage to you or your property. The cost of flood insurance is very practical when you consider the potential expenses of repairing or replacing your home after devastating flood damages. Clarke and Sampson offers all of the National Flood Insurance Program increased deductible options which provide premium discounts.