Boca Expert Realty Real Estate Blog

You may think that a flood could never happen to you. However, you don’t need to live in a flood zone to experience the disaster of a flood firsthand. Just ask the 20,000+ displaced people of Baton Rouge, Louisiana and the surrounding parishes who over one weekend in August 2016 received as much as 25 inches of rain.

Wherever it rains, it can flood. Heavy rains, poor drainage or even nearby debris from construction projects can put your home at risk for flood damage. In fact, people who live outside of mapped high-risk flood areas file more than 20 percent of the claims according to the National Flood Insurance Program (NFIP). All it takes is a few inches of water to cause major damage to your home and wreck your furniture, electronics, clothes, and personal keepsakes. It can also wipe out your savings.

Please consider these facts from NFIP:

* Floods are the most common and costly natural disaster in the United States.
* Most homeowners insurance policies do not cover flood damage.
* Over the past 5 years, the average flood insurance claim in Florida was $29,955.
* If available, Federal disaster assistance is often a loan that must be paid back with interest.

Obviously, you cannot prevent a natural disaster, but you can prevent a financial disaster. Residential flood insurance is available to homeowners and renters, condo owners and condo renters. Flood insurance can protect your financial well being and doesn’t have to drain your bank account.

Flood policies are available to purchase whether your home is considered at high-risk or at moderate-to low-risk for a flood. As per the NFIP, the average flood insurance policy costs about $700 per year. Please do keep in mind though that the premium will vary according to your home’s location and risk.

Please also keep in mind that there is a typical waiting period of 30 days from the date of purchase before the policy goes into effect. That means that the best time to buy a flood insurance policy is now. Protect what matters, your home, your family, your everything. When you compare the cost of a flood insurance policy to the potential devastation of a flood, the choice is easy.