The National
Flood Insurance Program (NFIP) defines a flood as 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, overtopped levees,
outdated or clogged drainage systems, and the rapid accumulation of rainfall.
Flooding can cause devastating damage to a home or business so it’s important
that people understand flood risks in their area, especially since most
standard homeowners insurance policies don’t cover it.
People need to understand that just because a flood hasn’t occurred in a
particular area in residents’ memory, that doesn't mean it won't occur in the
future. Flood risks aren’t just based on history; they are also based on a
number of factors, including rainfall, river-flow and tidal-surge, topography,
flood-control measures, and changes due to building and development in the area.
Although flooding can happen anywhere, certain areas are especially prone
to serious flooding. To help communities understand their risk, Flood Insurance
Rate Maps (FIRMs) have been created to show the locations of high-risk,
moderate- to low-risk, and undetermined-risk areas.
1. In a high-risk area, there is at least a 1 in 4 chance of
flooding during a 30-year mortgage. All home and business owners in these areas
with mortgages from federally regulated or insured lenders are required to buy
flood insurance.
2. In moderate- to low-risk areas, the risk of being flooded
is reduced, but not completely removed. Flood insurance isn't federally
required in moderate- to low-risk areas, but it is recommended for all property
owners and renters.
3. In undetermined-risk areas, no flood-hazard analysis has
been conducted in these areas, but a flood risk still exists.
“If your home
or business is impacted by a flood, you may face
more than just damaged building materials and belongings or even structural
damage,” said Douglas Waldie, President of Hudson Douglas
Public Adjusters, LLC. “Issues ranging from mold,
bacteria and viruses to chemical contaminants are common. Older properties with lead-based paints and
asbestos-containing materials are also often a potential hazard during cleanup,
demolition and repair activities. These issues
make fixing the damage that much more expensive and may be overlooked by
insurance companies when a claim is filed. This is just one of the many reasons
why people faced with an insured flood claim should look to the expertise of an
experienced public adjuster to represent their interests.”
The experts at
Hudson Douglas Public Adjusters work solely on the behalf of policyholders to comprehensively
document any flood damage and negotiate to have it properly addressed so
policyholders receive the full benefits of their insurance policy. They also
recently sponsored an educational video about flood risks and property damage
that can be seen at: https://youtu.be/uEomZzY07Kw
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