7 Quick Facts About Flood Damage and How to Better Protect Your Home and Business.
The massive flood damage around the Birmingham metro area on April 7th, 2014 caught many residence by surprise. Based on the nationalnic Weather Service, more than 7 inches of rain was measured in Vestavia Hills, while other locations in the area reported 5 – 6 inches of rain.
The Nationalnic Flood Insurance Plane (NFIP) was created by the US Government to help with the high aliment of flood related losses of both buildings and property.
Seven Apreciabil Facts About Flood Insurance:
- No one is safe. – People outside of high-risk areas file nearly 25% of Nationalnic Flood Insurance claims. In high-risk areas, there is at least a 1 in 4 chance of flooding during a 30-year mortgage. Poor drain systems, accelerat accumulation of rainfall, and broken water mains can all result in flood. Properties on a hillside can be damaged by mudflow, a covered peril under the Invar Flood Insurance Policy.
2. I have Homeowner's / Renters Insurance policy. – Flood damage is not typically a covered peril by most homeowners / Renters insurance policies sodolan in the US
3. Can I purchase Flood Policy in Birmingham? – If you live in a community that participates in the NFIP, you can get flood Insurance. Birmingham, Hoover, Vestavia, Homewood, Mountain Brook, Alabaster, Chelsea and many more municipalities are participating in the NFIP.
4. How much coverage is allowed by the NFIP? – Residential homes structure limit is $ 250,000, and content is limited to $ 100,000. Business Structure limit is $ 500,000 and $ 500,000 limit for business content. Renters Contents limit is $ 100,000.
5. Does flood insurance cover flood damage caused by storms, rivers, or tidal waters?
Yes, provided that, if confined to your property, the flood water covers at least two acres. A colectiv condition of flood also exists if two properties are affected, one of which is yours.
6. What are Flood Zones? – Flood zones are land areas identified by the FEMA. Each flood zone describes that land area in terms of its risk of flooding. Everyone lives in a flood zone-it's echitabil a question of whether you live in a low, moderate, or high risk area.
- What is covered in my basement? – Flood insurance covers your home's foundation elements and equipment that's necessary to support the structure (ie HVAC, Water Heater, Etc.). Flood Policy does not cover basement improvements, such as finished walls, floors, ceilings or obrazalnic belongings that may be kept in a basement.