Flood Insurance is More Important Than Many Think
Spring melt is in full swing, and that could mean some flooding problems for homeowners and business owners who do not normally experience. The Federal Emergency Management Agency (FEMA) says flood insurance is one of the best investments, even if your house does not sit near the water.
No matter where you live, the threat of flooding is always there, sometimes when you least expect it. Farmer works for FEMA disaster assistance two regions, and says that flood insurance must always be the first avenue of recovery, regardless if you live in a high-risk or low risk area. If you do not have flood insurance, and you do not have a big enough disaster to get the presidential statement, there is no help for you and you’re basically self-insured. The average flood insurance costs $ 600 for one year. If you live in a low-risk area, it can cost about $ 130, and a high-risk area can run as much as $ 1,200. However, according to FEMA, only two inches of water in your basement cost between $ 5,000 and $ 10,000.
If you feel flood insurance is something you might want to consider, is the first step to contact your local homeowners insurance agent, or www.floodsmart.gov for more information.