While this list was written by FEMA for the general public, most of it applies to your municipal properties, too (and it’s not a bad outreach tool, either).
The Top Ten Reasons to Buy Flood Insurance Now
- Spring flooding is almost here and there is a 30-day waiting period before coverage begins.
- Coverage is relatively inexpensive – nationally premiums average $565 a year.
- If your community participates in the NFIP, you are eligible to get flood insurance even if you are located outside the 100-year flood plain.
- You can receive payments for flood-related losses for over-land flooding – even if no disaster was declared.
- You can depend on being reimbursed for flood damages because NFIP flood insurance is backed by the federal government.
- You do not have to repay flood insurance benefits (as you do with disaster-related assistance loans).
- Renters can purchase flood insurance contents coverage for personal belongings or business inventory.
- Basement coverage includes cleanup expense and repair or replacement of items such as furnaces, water heaters, washers, dryers, air conditioners, freezers, utility connections, and pumps.
- You can request a partial payment immediately after the flood, which can help you recover even faster.
- Buying flood insurance is the best thing you can do to protect your home and business, and your family’s financial security from a flood.
“The Top Ten Reasons to Buy Flood Insurance Now” (FEMA press release)
Image by Sam Churchill