Southwestern Environmental Consultants, Inc.
Growth is inevitable...it's planning that makes the difference
Newsroom
TALKING POINTS - FLOOD RISKS
You should know your flood risk to understand your insurance needs.
- Floods can happen anywhere, at any time. Residents who live in
and outside of a high-risk area should know their risk, and consider
protection. Approximately 20 to 25 percent of all flood claims occur
outside of a Special Flood Hazard Area.
- Even if you live outside the high-risk zone, and thus are not
required by law to purchase flood insurance, you are still at risk
for flooding and should consider flood insurance. Flooding usually
is not covered by homeowners insurance.
- It is important to know that if you have a mortgage from a federally regulated lender on a home located in a high-risk area, federal law requires you to purchase flood insurance. Also, if you’ve received a federal grant or loan for previous flood losses, you must have a flood policy to qualify for future aid.
The NFIP helps reduce flood losses by providing affordable flood insurance to property owners.
- As long as your community participates in the National Flood
Insurance Program (NFIP), you are eligible to purchase flood
insurance. NFIP flood insurance is sold through about 90 private
insurance companies and agents, and it is backed by the federal
government. Unlike most standard homeowners policies, flood
insurance covers losses to your property caused by flooding.
- Typically, a policy does not take effect until 30 days after you
purchase flood insurance. For example, if the weather forecast
announces a flood alert for your area and you purchase coverage, it
is already too late. You will not be insured if you buy a policy a
few days before a flood. However, when purchasing property, policies
purchased as a requirement of your mortgage company upon closing.
- Flood insurance covers damage up to $250,000 for your building
and up to $100,000 if you purchase contents coverage. Contents
coverage is not automatically included in a standard flood policy.
For businesses, flood insurance covers damage up to $500,000 for
your building and up to $500,000 if you purchase contents coverage.
Policies are available in three forms: Dwelling (most homes),
General Property (apartments and businesses) and Residential
Condominium Building Association (condominiums). Renters are also
eligible to purchase a flood insurance policy.
- For properties located in a low- to moderate-risk flood zone, a low-cost Preferred Risk Policy can start as low as $112 a year for both building and contents coverage.
The National Flood Insurance Program provides federally backed flood insurance in exchange for local enforcement of sound floodplain management.
- More than 20,300 communities in all 50 U.S. states and its
territories voluntarily participate in the NFIP, representing about
95 percent of all properties in the nation’s Special Flood Hazard
Areas (SFHAs).
- Sound floodplain management planning and regulations save the
nation an estimated $1.1 billion in prevented flood damages
annually. Also, structures built to NFIP criteria experience 80
percent less damage than structures not built to such standards.
- Creating stronger and safer communities reduces loss of life and property; enables individuals and localities to rapidly recover from future events; and lessens the financial impact on state, tribal, and local governments as well as the U.S. Treasury.
For more information:
- A Summary of Coverage document helps you understand your flood
insurance policy. It provides general information about deductibles,
what is and isn’t covered by flood insurance, and how items are
valued at the time of loss. You can find this document at
www.fema.gov/pdf/nfip/summary_cov.pdf.
- The Flood Insurance Claims Handbook is available to help you through the process of filing a claim and appealing the decision on your claim, if necessary. You can find this document at www.fema.gov/library/viewRecord.do?id=2187.
- Contact your insurance agent to help you decide what kind of
flood protection is best for you.
- Visit FloodSmart.gov or call 1-800-427-2419 to learn how to prepare for floods, how to purchase a flood insurance policy and what the benefits are of protecting your home or property investment against flooding.
Information provided by
SEDONA
20 Stutz Bearcat Drive #6
Sedona AZ 86336
928-282-7787 ~ 800-264-7787
info@sec-landmgt.com
COTTONWOOD
825 Cove Parkway
Cottonwood AZ 86326
928-649-5889 ~ 800-264-7787
info@sec-landmgt.com
PRESCOTT
Prescott AZ
928-443-3216
800-264-7787
info@sec-landmgt.com
CAMP VERDE
PO Box 3270
Camp Verde, AZ 86322
928-634-5889
info@sec-landmgt.com
IDAHO
Council, Idaho
208-253-4612
800-264-7787
info@sec-landmgt.com