These are interesting times with changing weather patterns across the US, many areas that do not require Flood insurance because they have not flooded in 100 years are now under water. The pattern of weather and hurricanes seems to be changing. If you live near a river or lower lying area it may be a good time to review your need for Flood Insurance.
Many people don't know that their regular Homeowners or Fire and Extended Coverage
Insurance will not cover Flooding of their home. Flood Insurance is backed by the Federal Government and it can be as low as $129 per year. It is only required on areas that have had standing water in the past 100 years, ie the 100 year flood plain, but you can purchase it even if it is not required on your home. If you were not required to get Flood Insurance at closing when you bought your home, then your home, but maybe not your property is not in a flood plain.
If a part of your property is in the flood plain where there are no structures built on that section of land, you may still have the potential in this ever changing weather to be flooded. It may be a good time to reexamine your property and decide if you are in a lower lying area that maybe flood insurance may be worth the additional premiums.
The best place to start to examine your property and the propensity to flood is on the FEMA Flood Plain Maps Web site CLICK HERE or contact your insurance agent and have a discussion with them about the cost of Flood Insurance and what the propensity is in your area for flooding. There is a lot of good information at the site www.floodsmart.gov
The time to investigate Flood Insurance is before the rain starts. What is that saying "An ounce of prevention is worth a pound of Cure" I am certain there are some people along the Eastern Sea Coast who wish they would have investigated the cost of Flood Insurance before this weekend.
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