Social Media Preheader Home Page Get a Quote Refer A Friend Schedule an Appointment Claims Facebook Twitter LinkedIn Instagram Youtube
  • Home
  • Get A Quote
    • Annuities
    • AutomobileImage of right arrow
      • Auto Insurance Quote
      • Mexico Travel Insurance Quote
    • Bonds
    • Business & CommercialImage of right arrow
      • Builders Risk
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Dental
    • Farm
    • Flood
    • HealthImage of right arrow
      • Disability Insurance Quote
      • Health Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowner Flood Quote Form
      • Homeowners Insurance Quote
      • Manufactured Home Quote
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Trucking
    • Vision
    • Watercraft & Boat
    • Windstrom
  • Customer Service
    • AutomobileImage of right arrow
      • Add Driver to Existing Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • Business & CommercialImage of right arrow
      • Add Driver to Existing Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
      • Request ID Card for Commercial Auto Policy
    • Flood
    • Health
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
    • Life
    • MotorcycleImage of right arrow
      • Add Driver to Existing Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Driver from Existing Motorcycle Policy
      • Remove Motorcycle from Existing Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Request ID Card for Motorcycle Policy
    • Other
    • Recreational VehicleImage of right arrow
      • Add Driver to Existing Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Driver from Existing Recreational Vehicle Policy
      • Remove Recreational Vehicle from Existing Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Request ID Card for Recreational Vehicle Policy
    • Renters
    • Watercraft & BoatImage of right arrow
      • Add Watercraft to Existing Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Request ID Card for Watercraft Policy
    • Windstorm
  • Blog
  • Make A Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Free Reports
    • Insurance Glossary
    • News Center
  • About Us
    • About Parkway Insurance Group, Inc.
    • Location Map
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
    • Community Outreach
  • Contact
    • Contact Us
    • Join Our Newsletter
Postheader Auto Insurance Home Insurance Business Insurance Life & Health Insurance
Home > Blog > Preparing for Flood
TUESDAY, FEBRUARY 8, 2022

Preparing for Flood

Typical homeowner policies do not cover flood, so it is most likely that unless you’ve purchased a flood insurance policy, you do not have coverage for flood losses. Even though flood insurance is available through many insurance companies, it is actually the federal government that is providing the policy through the National Flood Insurance Program (NFIP).

According to the NFIP, a flood is defined as an overflow of inland or tidal waters, unusual and rapid accumulation or runoff of surface waters from any source, a mudflow, or a collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.

The NFIP flood insurance products are generally more complicated than those offered by most other property insurers. Unlike a private property insurer, the NFIP does not have to compete against other insurers. The policy terms and rates for the various flood insurance policies are determined by the government. As a result, comparison-shopping for flood insurance is not necessary, but a buyer should carefully discuss and review the conditions and requirements of the applicable flood insurance policy with their agent.

It takes a minimum of 30 days for a flood insurance policy to become effective, unless it is being purchased in connection with purchasing a home or refinancing a mortgage. It is prudent, therefore, to purchase a flood insurance policy well before you think you will need protection. In addition, depending on the type and location of the building being insured, certain forms may have to be completed by a qualified individual such as an engineer.

Available Flood Insurance Policies

The NFIP offers three flood insurance policy forms. For each of the policies, contents coverage is provided if purchased. Policy types vary based on how a building is occupied.

Dwelling Form – Provides building coverage for residential buildings of no more than four families or single-family homes and includes limited coverage for detached garages.

General Property Form – Provides building coverage for nonresidential buildings, residential buildings of more than four families, manufactured homes, and residential condominium buildings if the named insured is the condominium association.

Residential Condominium Building Association Policy – Provides building coverage for a residential condominium building, including all units within the building and improvements made within the individual units. Owners of individual units can purchase building and contents coverage through the Dwelling Form.

Availability of Flood Insurance

Flood insurance provided by the NFIP is available in over 20,000 participating communities through private insurance companies. Check with your insurance agent to find out if your community participates.

Reduce Your Exposure to Flood Losses

The most important loss mitigation factor in reducing flood risk is the elevation of the structure. This means making sure that your home is at or above the projected flood elevation, a level that is commonly referred to as the “hundred-year flood level.”

Here are other things that can be done to help reduce future flood losses:

 

1. Raise the location of the main electrical switchbox, electrical outlets, and the appliances above the lowest floor level protects against some flood losses. Placing a heater and furnace on blocks also reduces exposure to floods.

2. If your sewer system doesn’t have a backflow valve, hire a licensed plumber to install one. Also, ask the plumber to check the function of your floating floor drain plug, or to install one, if one doesn’t already exist.

3. Fuel tanks, such as propane tanks, may float away, tip over, or otherwise cause damage due to flood waters. Secure them in accordance with local building codes.

 

Even if you are not located in a high risk flood zone, it is recommended to purchase a flood policy. For those that qualify for the preferred risk rates, the cost is minimal.

 

Posted 12:00 PM

Tags: insurance, flood
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2017
  • 2016

  • insurance(68)
  • tips(29)
  • home(20)
  • auto(19)
  • safety(17)
  • life(16)
  • homeowner(11)
  • holiday(8)
  • car(7)
  • house(7)
  • homeowners(6)
  • flood(6)
  • rates(5)
  • family(4)
  • claims(4)
  • health(4)
  • business(3)
  • money(3)
  • long-term(3)
  • mistakes(3)
  • halloween(3)
  • new year(2)
  • disability(2)
  • commercial(2)
  • accident(2)
  • april(2)
  • thanksgiving(2)
  • claim(2)
  • save(2)
  • long-term care(2)
  • value(2)
  • dog(2)
  • funny(2)
  • women(1)
  • labor day(1)
  • permanent(1)
  • college(1)
  • financial(1)
  • retirement(1)
  • texas(1)
  • valentine(1)
  • traffic(1)
  • inventory(1)
  • refresher(1)
  • employee(1)
  • 4th of july(1)
  • school(1)
  • child(1)
  • teen(1)
  • student(1)

View Mobile Version
Fill out the form below or call/email us at
(281) 558-1991 | info@parkwayinsurancegroup.com


Who We Are >
We are a leading provider in insurance and services in the insurance industry. Priding ourselves on providing the best customer experience possible while also giving you the lowest rates. We have relationships with dozens of insurance companies, allowing you to get the right price with the right service.

Read More
Read Our Blog >
ASI Lloyd's
Progressive
Mercury
UPC Insurance
American General
Blue Cross Blue Shield
Universal American
Customer Testimonials >

Read More
 
  Who We Are
Insurance Carriers
Meet Our Staff
Customer Testimonials
  Auto Insurance
Life Insurance
Home Insurance
Health Insurance
Business Insurance
Other Insurance
  955 Dairy Ashford Rd. Ste 203 
Houston, Texas  77079
P: (281) 558-1991 | F: 281-558-1998
info@parkwayinsurancegroup.com
 
©Parkway Insurance, All Rights Reserved - Terms & Privacy Policy Powered by Insurance Website Builder