What is a Flood?
Anywhere it rains, it can flood. A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes, broken levees, outdated or clogged drainage systems and rapid accumulation of rainfall.
Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Flood risk isn’t just based on history, it’s also based on a number of factors: rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development.
Why Care About Flooding?
Floods are the most common natural disaster in the United States. They’ve caused nearly $24 billion in U.S. flood losses in the last 10 years. There is a 26 percent chance of experiencing a flood during the life of a 30-year mortgage in high-risk flood areas. However, losses due to flooding are not covered under typical homeowner’s and business insurance policies.
Everyone is at Risk
Flooding happens every day in all regions of the country. Consumers must prepare for flooding no matter where they live. The Northeast can be affected by remnants of tropical disturbances in the summer, but are also threatened by winter flooding, nor’easters, and the threat of rapid spring melts. The Midwest experiences major river flooding – illustrated by the catastrophic floods of 1993 and 2008. The west coast’s intense flooding season typically spans November through March and results in millions of dollars in damage for residents each year.
Many consumers think that flooding related to hurricanes and other tropical disturbances are limited to coastal areas. However, some of the most damaging flooding can happen well inland and days after a storm makes its initial landfall. In 2007, Ohio, which has no ocean coastline, received more than $44 million in flood insurance payments.
Although many floods are caused by huge storms like hurricanes or nor’easters, more floods occur every day and can result from small, localized events, such as a typical afternoon thunderstorm. 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.
What is your Flood Risk?
Determine your Flood Risk at FloodSmart.gov
Is your property in a high risk or moderate to low risk area? Knowing your flood profile will help you understand your risk of financial loss.
Find out your relative flood risk right now — online at FloodSmart.gov’s “Assess Your Risk”. Simply enter your property address to see your relative risk, find links to flood maps, and other flood insurance community resources.
Flood maps determine your level of risk. You can also view current flood maps at FEMA’s Map Store located at www.store.msc.fema.gov. FEMA is also undertaking a nationwide effort to produce new digitized flood maps for hundreds of communities over the next five years. These new maps will reflect changes in floodplains caused by new development and natural forces.
At Bosshard Surveying we can help you determine what your risk is.
As a homeowner, it’s important to insure your home and its contents. Depending on your property location, your home is either considered at high-risk or at moderate-to-low risk for a flood. Your insurance premium will vary accordingly.
Most homeowners in a moderate-to-low risk area are eligible for coverage at a preferred rate. Preferred Risk Policy premiums are the lowest premiums available through the NFIP, offering building and contents coverage for one low price. In fact, building and contents coverage starts at just $129 per year.
If you don’t qualify for a Preferred Risk Policy, a standard rated policy is still available. Even though flood insurance isn’t federally required, nearly 25% of all NFIP flood claims occur in moderate-to-low risk areas.
Bosshard Surveying offers an on staff licensed floodplain professional to assist you in determining your risk level. Our ability to work over the internet directly with FEMA allows us to quickly obtain approvals of e-LOMA applications. Our rapid response allows us to get you the answers you need–FAST at a price you can afford!