Flooding is the most common natural disaster, and takes place every day in all regions of the country. No matter where you live, you must be prepared. In a high-risk area, your home is more than twice as likely to be damaged by a flood than a fire.
Did you know that most homeowners policies DO NOT include flood insurance!
Your flood insurance premium may be as low as $129/year if you live in a moderate-to-low risk area and are eligible for the Preferred Risk Policy.
Although many floods are caused by massive storms like hurricanes or nor’easters, many floods happen as a result of small, localized events, like afternoon thunderstorms. No matter where you live, it is important to remember that just a few inches of water in a home can cause thousands of dollars of damage.
Nearly 25% of all flood claims are made from low risk zones where flood insurance isn’t required by the mortgage lender. New development can change natural runoff paths, putting your property in harm’s way.
Special Flood Hazard Areas – High Risk
Special Flood Hazard Areas represent the area subject to inundation by 1-percent-annual chance flood. Structures located within the SFHA have a 26-percent chance of flooding during the life of a standard 30-year mortgage. Federal floodplain management regulations and mandatory flood insurance purchase requirements apply in these zones.
Coastal High Hazard Areas – High Risk
Coastal High Hazard Areas (CHHA) represent the area subject to inundation by 1-percent-annual chance flood, extending from offshore to the inland limit of a primary front al dune along an open coast and any other area subject to high velocity wave action from storms or seismic sources. Structures located within the CHHA have a 26-percent chance of flooding during the life of a standard 30-year mortgage. Federal floodplain management regulations and mandatory purchase requirements apply in these zones.
Moderate and Minimal Risk Areas
Areas of moderate or minimal hazard are studied based upon the principal source of flood in the area. However, buildings in these zones could be flooded by severe, concentrated rainfall coupled with inadequate local drainage systems. Local stormwater drainage systems are not normally considered in a community’s flood insurance study. The failure of a local drainage system can create areas of high flood risk within these zones. Flood insurance is available in participating communities, but is not required by regulation in these zones. Nearly 25-percent of all flood claims filed are for structures located within these zones.
Undetermined Risk Areas