Do I Need Flood Insurance?

floodingDo I Need Flood Insurance?

If you think there is a chance, no matter how remote, that your home could get even 1″ of flood water in it you need flood insurance.

The month of May this year saw record rainfall and massive flooding across the state. News interviews of residents revealed that some areas flooded that had “never” flooded before – at least that anyone can remember.

When that happens they call it a “100 year” or “500 year” flood. With my luck my home would flood, even if not in a flood plain and perched on a big hill.

flooded roadThe average flood insurance policy is not very expensive (depending on your location) and is well worth the cost – in my opinion. For to not carry flood insurance means that if a catastrophic flood should happen to your home, it would be a total loss.

Here are some valuable tips and information from flood.gov:

Since I don’t live in a flood zone, I don’t need flood insurance, right?
Wrong. Everyone is at risk for flooding. Floods can happen anywhere, at any time. Residents who live in and outside of a high-risk area (also known as a Special Flood Hazard Area) should know their risk and consider protection.
If you live outside of the high-risk area and are eligible for the Preferred Risk Policy, your flood insurance premium may start as low as $119 a year.
Why should I purchase a flood insurance policy since the Federal Emergency Management Agency (FEMA) makes disaster assistance available after a flood?
Federal disaster assistance is only available in a presidentially declared disaster. Flood insurance claims are paid even if a disaster is not declared by the President. A flood insurance claim is your money and you do not have to pay it back.
Why can’t I get flood insurance if I live in a Special Flood Hazard Area?
You can and should get flood insurance if you live in a Special Flood Hazard Area (SFHA). These areas are considered to be at high risk for flooding, and the National Flood Insurance Program (NFIP) encourages every homeowner, business owner or renter who lives and works in an SFHA to invest in flood insurance protection. Flood coverage is available to anyone who lives in one of 21,000 NFIP participating communities across the country. To find out if you live in an NFIP participating  community, visit www.fema.gov/fema/csb.shtm. You can call your insurance agent for more information, or visit FloodSmart.gov to find an agent in your area.

For all your Montgomery County Real Estate Needs contact the Michelle Wheeler Team
Wayne Stroman, Broker
Lake-Conroe-Realtors.com TREC Lic. 0416282
Call the Property Desk at 936-588-7004
Sales Office: 14500 HWY 105 W, Conroe, Texas 77304
Mail to: PO Box 2991, Conroe, Texas 77305
Sales: 936-588-4444
Fax: 936-588-4884

Listing and Sales Agent

Michelle Wheeler
Lake Conroe Area Team Leader

Real Estate Listing and Sales

Wayne Stroman
Lake-Conroe-Realtors.com Broker

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