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Flood Insurance is a necessity

Californians are facing flooding this year. The long-awaited rains are finally here, as predicted. Three years later, the rain gods are finally answering.

California has a widespread misconception that flood protection is for only those who live in the Midwest. California floods are not the same as those in other states.

Flood Insurance is a great option for many residents in the San Francisco Bay Area. It’s affordable if you live within a flood zone and your community participates the National Flood Insurance Program (or NFIP). The US National Government, through the Department of Homeland Security, underwrites National Flood Ins.

Flood insurance will cost more for those who live in A- and V flood zones. Sometimes the cost of flood insurance can rise to 9-10 times the amount. There are other factors such as your house’s elevation and foundation. These clients who live in high-risk flood zones are increasingly being asked to pay flood prices that would make most consumers’ eyes water. It’s not a small number, but it is a significant amount.

CNBC’s California’s Future was the subject of a recent article. El Nino floodsInsurance companies and roofers will be busy. This article suggests that insurance can be purchased for as low as 400 to 500 dollars. While this may be true for some people, it is not true if you live in areas with higher flood risk. Preferred Pricing is a type of pricing that many clients can and will be eligible for.

What should a client who lives in high-risk flood zones in California do? Flood insurance will not help clients as much as regular homeowners (homeowners) insurance. Private flood insurance may be a good option in certain situations. These options are often not known by agents.

Floods are almost never covered under your normal home insurance. A new flood insurance policy will usually require a 30-day waiting period before it can be in force.

Are you thinking it’s too late to get flood insurance for Califorians? Although I don’t think so, it is becoming increasingly likely. The time is running out.

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