Importance of Flood Insurance - Norcom Insurance
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Importance of Flood Insurance

Importance of Flood Insurance

Did you know that all 50 states have experienced floods or flash floods in the last five years? Even if you think you’re safe without flood insurance, think again. Flooding can cause an extensive amount of damage to homes and neighborhoods, upwards to billions of dollars. Flood insurance will help avoid the costs of rebuilding or fixing the damage caused by flooding.

Homeowner’s policies do not always cover damage that is sustained during a flood. Check with your insurance provider to see the full extent of your coverage because getting a separate flood insurance policy can help to keep your home and your family safe.

-Flood probability varies and is determined with these terms: 25-year, 50-year, 100-year, 500-year, and 1,000-year. This is the probability of a flood occurring on your property.

 25-year = 4% chance

50-year = 2% chance

100-year = 1% chance

500-year = 0.2% chance

1,000-year = 0.1% chance

 Although you may live in a 1,000-year zone, you still have a slight chance of becoming the victim of a damaging flood. Nearly 12 years ago, Hurricane Katrina destroyed parts of Louisiana. One area that was severely damaged? Baton Rouge; which was considered a 1,000-year flood zone. That means they had a 0.1% chance of getting hit by any floods.

Regardless of your home’s level of risk, anyone is able to obtain flood insurance. There are some locations that are at higher risk but as stated before, it doesn’t mean lower-risk areas won’t ever experience this type of catastrophe. 

-There are a few exceptions on what flood insurance will cover. Any moisture, mildew, or mold damage that your insurance company thinks could have been avoided, will not be covered. If you’re considering getting flood insurance, please contact Norcom’s flood insurance agent, Rich Ingraham, at rich.ingraham@norcom-usa.com or 860-507-2581.

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