April 30, 2024
April showers bring May flowers, but those same April showers can also bring flash flooding. Flooding is the most common disaster in the United States and floods occur in all fifty states. In the last several years, there have been dozens of flash flooding incidents in communities throughout the Midwest. While the majority of our area is not considered to be in a “Special Flood Hazard Area,” as defined by the federal government, flooding has been a reality of life for many of us. In fact, 29% of all floods occur in areas considered to be low or moderate flooding risk and most standard insurance policies do not provide coverage for damage due to flooding.
The National Flood Insurance Program (NFIP) was created in 1968 to help provide a means for property owners to financially protect themselves. It is important to know the basics of the NFIP flood policy. Here are some facts about flood insurance:
Without insurance, relief from floods primarily comes in the form of loans. If your community is declared a disaster area, no-interest or low-interest loans are usually made available by the federal government as part of the recovery effort. These loans are just that—loans—and must be paid back. Obtaining a flood insurance policy is the only way to protect yourself fully from the cost of flooding.
The good news is that flood insurance is relatively inexpensive for the properties located in low or moderate flood zones, and coverage is available to everyone regardless of what flood zone your building or home is located in. TFG Aviation can help you get the coverage you need to protect your property.