How to Prep for a Flood
At (Company Name), we represent the client, NOT the insurance carriers. We are purely interested in doing what is best for our clients, putting their interests ahead of our own. We work hard for our clients and enjoy empowering them through client education. Today, we take a look at the importance of how to prep for a flood.
Many people think that it will not be them who gets hit with flooding in their house. However, there have been countless stories told with real people in real situations in which flooding occurred, usually unexpectedly, in their homes. It is better to be protected and not need it than to need protection and not have it.
All of which is why the key factor in prepping for a flood is to be protected by flood insurance. Even if you are not required to carry flood insurance, it is important to consider purchasing coverage. Many claims for flooding come in from areas considered to be at low risk for flooding, which is why it is important to remember that low risk does not equal no risk at all. Most homeowners insurance policies do not cover damage due to flooding.
Floods can come on suddenly and may be a result of rain, snow, coastal storms, storm surges, and overflows of dams or other water systems. They can develop slowly or come on rapidly without warning, as such is the case with flash flooding. It is imperative to ensure you are prepared in advance so that you don’t get caught in a flood and not know what to do.
Preparation
Prepare and Practice Evacuation Prepare an evacuation plan ahead of time. Practice the plan so that in the case of an emergency, you are already comfortable with the plan.
Know Nearby Shelters Get to know what buildings nearby will be used for shelters in the case of an emergency. Make a list and keep it with your emergency plans.
Have a Flash Flood Response Know what to do if flash flooding occurs. Flash floods can come on with no warning whatsoever.
Build an Emergency Kit Emergency kits should include a flashlight, batteries, cash, and first aid supplies.
Get to Know Local Emergency Plans Familiarize yourself with local plans in case of an emergency. Contact local officials and ask questions so that you know what standard procedures look like ahead of time.
Most importantly, your focus should be on keeping yourself and your family safe. Find shelter, don’t attempt to move throughout flood waters, stay off of bridges, and pay attention to local orders. Evacuate if told to, move to higher ground, or stay where you are depending on the situation. Keep local radio stations on for emergency information during the flood.
National Flood Insurance Program (NFIP) Changes 2021
New business, as well as renewals, are affected by the program changes as of 4/1/2021. The National Flood Insurance Program has begun increasing premiums in compliance with the requirements of both the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowners Flood Insurance Affordability Act of 2014. Premiums have been updated and there are updated Community Rating System community class changes.
FEMA’s new Risk Rating 2.0 pricing methodology has taken effect as of 4/1/2021. The purpose of the new methodology is to enable FEMA to deliver rates that are reasonable, equitable, and easier to understand as well as reflect a property’s risk for flooding.
In Summary
Meet with one of our agents to allow us to help you become familiar with how you might be affected by FEMA and NFIP changes in 2021. We will ensure that you are covered in a way that works for your situation and property without compromising your wallet. Get covered, create a plan, and stay safe out there.
Sources Consulted:
1) https://nfipservices.floodsmart.gov/sites/default/files/w-20020a.pdf
2) https://www.fema.gov/flood-insurance/work-with-nfip/risk-rating#:~:text=Risk%20Rating%202.0%20enables%20FEMA,models%20and%20evolving%20actuarial%20science