Atlantic Hurricane season began on June 1, which means that it's time to examine flood insurance for your home. Though you may be far away from the beach, hurricanes can still make their presence felt with torrential rain which can cause damaging floods. In fact, hurricane-related flooding causes more property damage than hurricane winds.

A flood can wash away your savings as well as your property and possessions. Flooding is the most costly natural disaster we face. According to FEMA, the average cost of property damage caused by a flood is $34,000. Floods that are less than one foot deep can damage your home or business.

I’m hundreds of miles away from the coast. Why do I need to worry about a flood?

Even if you live so far inland you never have to worry about an actual hurricane bearing down on your home or business, rainstorms get more powerful during the spring and summer months. Since 2010, storms that should be occurring only once every 1,000 years have occurred seven times. The number of recent rainstorms that should only happen "once every 500 years" or "once every 100 years" has skyrocketed during that same time period.

Floods aren't only caused by rising rivers or lakes or an overwhelmed drainage system. Your home or business can get flooded due to a levee or dam failure, an intentional release from a dam, broken water mains, and even collapsed swimming pools! Municipal storm drain systems are commonly designed to handle only "once every 20 years" or "once every 25 years" rainfall, so these more powerful rainstorms can easily overwhelm and flood the system.

I have homeowners or business insurance. I'm covered in case there's a flood, right?

Wrong. Nearly all homeowners and business owner policies specifically exclude flood damage. Furthermore, Federal Disaster Assistance is only paid out when the President of the United States declares a flood or other event a national disaster. According to FEMA, there were only 28 such disasters declared in all of 2016.

How much does Flood Insurance cost?

The cost of insuring your home, business, or possessions against a flood is a “drop in the bucket” compared to the cost of fixing damage caused by a flood. Homeowners without basements in low risk areas can purchase $250,000 worth of building coverage and $100,000 worth of contents coverage for as little as $450 a year. Homeowners with basements in low risk areas can obtain the same coverage limits for as little as $499 a year.

D. Ward Insurance would be happy to answer any questions you may have about Flood Insurance or to begin the process of getting a Flood Insurance Policy. Call us today at 770-974-0670 or click the button below to fill out a quote request form. We look forward to doing business with you!

Disclaimer: This report is for information purposes only and is not to be construed as definitions of policy coverages or limits. This report does not alter, amend, or change the policy wording and the intent of this report is to bring attention & to have a conversation with D. Ward about your insurance needs.