Don’t be one of the thousands of people in Auburn who make the mistake of assuming that you only need Flood insurance if you live near the coast!
Although you may not technically live in a flood zone, extreme weather can happen anywhere. Auburn is known for its extreme weather and you don’t want to be caught in a situation where you wish you had just purchased the recommended insurance instead of taking the risk. Even if you don’t live near a large body of water, hurricanes affect every region of our state, and with that come torrential rains that can leave your home devastated. Other common causes of flooding include clogged sewer drains, soaked grounds and snow melt. These can happen anytime, anywhere. Don’t be caught unprepared.
Although hurricanes like Katrina and Ike are not common, we recommend guarding against such events unless you are able to comfortably pay for any damage that may come from such flooding on your own. Remember that generally every inch of flood water in your home costs $1000 or more to repair.
You may be wondering, “Doesn’t our homeowner’s insurance policy cover for flooding?” The answer is a resounding NO. Flood insurance is a separate policy so any flood damage you have in your home will not be covered by your regular insurance.
Flood insurance is actually a division of the Federal Emergency Management Agency (FEMA) and is run by the US government. The premiums and rates are all set and regulated by FEMA. Your premium is determined based on your property location and the amount of coverage you wish to have in place. Obviously, the closer your property is to a large body of water and more likely to be flooded, the higher your premium will be.
If you are purchasing a home in a flood hazard zone, chances are good that the lending institution supplying your mortgage will require flood insurance, minimum to the amount of the loan. Homes not near the water will likely be considered to be not in a flood hazard area. These properties can still purchase flood insurance at surprisingly inexpensive rates. In many instances a preferred policy is available for under $400.
If you have any questions regarding the area in which you live or if you live in a flood zone, please don’t hesitate to call our office. All of our agents are knowledgeable about flood insurance and can help you find what is best for your situation.
We are passionate about this subject because of all the situations we have seen during our long experience working here in the Gulf Coast region. The various named hurricanes and tropical depressions that have hit us over the years have all done considerable damage to many homes, businesses and other properties in our communities. That's why it is so important to us that you have the best protection possible.