With all the news about the recent Louisiana floods in the Baton Rouge area you will want to review the following flood facts and take action now. TV reported that an estimated 90% of the folks affected by the Louisiana floods did not have flood insurance and judging by the pictures many of them suffered serious financial losses.
1. FLOOD CHANCES – Floods are caused by storms The Louisiana floods were a result of an unusually heavy rain event causing water backup due to overloaded drainage systems. Hurricanes and broken water mains are other reasons. In total about 20% of flood claims come in moderate to low risk areas.
2. FLOOD DAMAGE – Just a few inches of water from a food can cause tens of thousands of dollars in damage to your home or business. From 2008 to 2012, the average residential flood claim was more than $38,000. Flood insurance is the best way to protect yourself from devastating financial loss.
3. Get Covered – Flood Insurance is available to homeowners, renters, condo owners/renters and commercial owners/renters. Costs vary on how much insurance is purchased, what it covers and the properties flood risk. The Preferred Risk policy premiums start at $129 per year.
4. DON’T WAIT – Typically there is a 30-day waiting period from date of purchase before your policy goes into effect, so now is the best time to buy flood insurance.
5. HAVE A FAMILY SAFETY PLAN – Prepare and test a family (include pets) safety plan to help minimize potential losses and ensure the families safety.