What You Need to Know About Flood Insurance

With even state and national governments findingthe risk. Ground that is frozen hard or baked dry
their budgets taxed by flood costs, individualon top is likely to whisk water your way. Rapidly
property owners can't afford to go without flooddeveloping communities are sometimes given a
insurance. Even damage from a burst water mainshock when the first rainfall reveals deficiencies in
is likely to be considered ineligible for paymentstheir drainage systems.
from a property policy. The government hasThe trials of communities facing floods in both
increased efforts to warn property owners ofEngland and North America have been front-page
flood risk in light of recent disasters.news. The message coming from many
Flooding is an almost universal danger in developedgovernment agencies is that when it comes to
areas-factors such as drainage, snowmelt andflooding, property owners can pay now or pay
manmade water systems can contribute tolater. Paying now is usually the more attractive
disaster. Heavy rain is not necessary for a floodoption-although the dented bottom lines of many
to occur. A good flood insurance policy will coverinsurers may make some say otherwise.
these bases for you, allowing you to enjoyCourt battles over insurance claims resulting from
security for your home or business.disasters such as Katrina have left hard feelings
Thousands of communities face hidden floodon the side of both victims and insurers. Recent
dangers. Insulated from the coast, not known forrulings have pointed more strongly to the need
heavy rain, residents in some areas are likely tofor home and business owners to purchase flood
underestimate the risk of flooding. Theinsurance alongside their property insurance
government and insurance companies have takenpolicies.
steps to inform New Jersey residents of theThe federal government has established a
importance of flood insurance.clearinghouse for flood risk assessments and flood
A cornerstone of governmental informationinsurers. The site contains tools that can rate
campaigns on flooding has been the fact that ityour flood risk based on your address, as well as
can strike almost anywhere. Factors such as flathelp you estimate what your premium will cost.
ground and poor water absorption can increase