HOW TO AVOID HOUSTON HOMES WITH FLOODING HISTORY
WHAT IS FLOOD INSURANCE ?
Flood insurance covers losses directly caused by flooding. In simple terms, a flood is an excess of water on land that is normally dry, affecting two or more acres of land or two or more properties. For example, damage caused by a sewer backup is covered if the backup is a direct result of flooding.
WHAT IS COVERED BY FLOOD INSURANCE ?
Most homeowners insurance does not cover flood damage. Only flood insurance covers the cost of rebuilding after a flood. In fact, policyholders outside of high-risk flood areas file over 20 percent of all NFIP flood insurance claims and require one-third of federal disaster assistance for flooding.
DO I NEED FLOOD INSURANCE FOR MY HOME ?
Don't risk being underwater—understand how flood insurance work.
Your standard homeowners policy doesn't provide flood coverage. It's important to note that, as a rule, homeowners and renters insurance does...Not cover damage from flooding. To protect your home, be sure to understand the risk of flooding and what your insurance options are.
WHAT IS A FLOOD ZONE?
Flood zones are geographic areas that the FEMA has defined according to varying levels of flood risk. These zones are depicted on a community's Flood Insurance Rate Map (FIRM) or Flood Hazard Boundary Map. Each zone reflects the severity or type of flooding in the area. Moderate to Low Risk Areas.
HOUSTON RECENT FLOODING EVENTS
Tropical Storm Allison (2001)
Major southeast flooding (2006)
Hurricane Ike (2008)
Memorial Day Floods (2015)
Tax Day Floods (2016)
Hurricane Harvey (2017)
Tropical Storm Imelda (2019)
WHEN DID MY FLOOD ZONE CHANGE ?
FEMA National Flood Insurance Program: "Flood risk can, and does, change over time. Flood risks change for many reasons: new development, changes in levee classification, and environmental changes, to name a few. As a result FEMA is updating flood hazard maps across the country.
HOW DO I GET FLOOD INSURANCE IN TEXAS ?
You can purchase flood insurance from the National Flood Insurance Program, but only through an agent or insurer. There is no option to buy the insurance directly from the government.
IS ALL FLOOD INSURANCE THROUGH FEMA ?
Standard homeowners insurance does not cover flooding. ... The NFIP is administered by the FEMA, which works closely with nearly 90 private insurance companies to offer flood insurance to property owners and renters. Rates are set by the government and do not differ from company to company or agent to agent.
AVERAGE COST OF FLOOD INSURANCE
The average flood insurance premium is around $500 a year. Outside of high-risk areas, premiums start as low as $119 a year.
Once purchased, there is a 30-day waiting period for the policy to become effective, so don't wait to buy it!
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