Do I Need Flood Insurance

Flooding is one of a handful of exposures to risk that aren’t automatically covered in a homeowners’ insurance policy that you can get coverage for.

One thing that I’m certain of is that our local weather has changed. It’s different from when I was a kid and it’s even different from what we’ve experienced ten years ago. National and worldwide weather events seem more intense than what we’ve ever seen in the past. Some of this is about reporting and the speed of information. But when I hear folks talking about cruises to Alaska and “I can’t believe how much it’s changed since I was there 8 years ago” and the subsequent stories of drastically changing weather and overall climate in our northern most state. Extreme weather events are here to stay!

Flooding is the most common and costly natural disaster in the United States. The risk of flooding is constantly increasing due to climate change: rising sea levels, wildfires, changing precipitation patterns and more. Flood insurance helps you financially protect your home and its contents against the real and rising risk of flooding. 

There are many experts that agree with the fact that we’re getting more extreme weather conditions than ever before. Rain, heat, humidity, wind, deep freezes, or droughts, they’re more extreme than ever before. These extremes not only put high stress on our state and community infrastructures they can cause catastrophic damage to our homes. When they’re focused in our backyard, it becomes our problem to deal with. According to FEMA, one inch of flood water can cause up to $25,000 in damage to a home. It’s a good time to assess your flooding potential as 20% of all flood insurance claims come from outside of “high risk” areas. Recent flooding in Vermont and Leominster, MA are examples of flooding that can happen anywhere.

The NFIP defines covered flooding as a general and temporary condition during which the surface of normally dry land is partially or completely inundated. Two adjacent properties or two or more acres must be affected. Flooding can be caused by any one of the following:

• Overflow of inland or tidal waters.
• Unusual and rapid accumulation or runoff of surface waters from any source, such as heavy rainfall.
• Mudslides or mudflows caused by flooding that are comparable to a river of liquid and flowing mud.
• Collapse or destabilization of land along the lakeshore or other bodies of water resulting from erosion or the effect of waves.
• Water currents exceeding normal, cyclical levels.

Flood insurance has been written thru the National Flood Insurance Program since 1968. Private flood insurance providers have been back writing flood insurance in recent years giving us more options than ever before. Atlantic Insurance writes flood insurance through the NFIP and many private flood insurance providers when available. Call today for information specific to your home.