With the recent storms across the nation causing heavy flooding you may be wondering if you could ever be at risk. Keep in mind you don't have to live near an ocean, river or lake to become a flood victim. According to FEMA   (Federal Emergency  Management Agency)  “Everyone Lives in a Flood Zone”.  Even if you are dealing with a few inches of water, flooding causes serious damage to your home.

It is important to know that regular homeowner’s insurance policies does not cover flooding. Homeowners insurance covers damage to your property if caused by other means, such as a fire or a tree falling on it, but it does not cover water damage that results from flooding. If you are looking for a unique way to evaluate your risk, there is an assessment tool located on the National Flood Insurance Program, it is also important to locate what flood zone you are in. You do have options however for flood insurance, there are two types of flood insurance available:

Special Flood Hazard Area (SFHA)

The SFHA, as designated by the Federal Emergency Management Agency (FEMA) represents the 100-year regulatory floodplain. What this means is that in any given year, properties in this area have a one-in-100 chance of becoming flooded. Residents in the SFHA are only allowed to carry regular or Standard flood insurance which is available through the National Flood Insurance Program (NFIP). To get a Standard or Regular flood insurance policy, please contact your local insurance provider. For information about the NFIP or flood insurance providers, please call 800-427-4661 or visit www.floodsmart.gov.

Preferred Risk Flood Insurance (PRPs)
This is available to home-owners that are not considered at immediate risk However, FEMA warns that over the life of a 30-year mortgage, property owners in areas like Sacramento can expect an approximately 26% chance of flooding.  So this really is the “what if’ policy.  Again, just because you haven’t had a flood in 100 years, doesn’t mean it can’t happen.

Once you have flood insurance, it is crucial that you take stock of your possessions and know what your policy covers before a flood occurs can help when you need to file a claim.  Safely store your flood file in a secure place, away from the property you are insuring: typically in a safety deposit box.  Also review your policy and understand what’s covered. Flood insurance covers buildings and/or contents for residential and non-residential structures. It’s important to know what your policy covers and how you would go about filing a claim.