Flood insurance, the unsung hero of home protection, often takes a back seat in homeowners’ minds. The common misbelief is that your standard home insurance has you covered. But here’s the reality check: it won’t save you from the deluge unleashed by storm surges.
What’s even more baffling is that those residing in the very regions prone to hurricanes – where the need for flood protection is pretty clear – often opt to go bare. Case in point: a jaw-dropping 60% of Florida homeowners were reported to lack flood insurance in 2017, despite the state’s front-row seats to the dramatic theater of hurricane landfalls.
Now, let’s lay the truth on the table – floods don’t play favorites. They’ll happily visit anywhere, and we do mean anywhere. As FEMA so sagely puts it, “Anywhere it can rain, it can flood.” Forget about coastlines and water bodies; local infrastructure, including the likes of dams, levees, and reservoirs, and alterations to the landscape can pave the way to floodville. Even in bustling urban areas, a lousy drainage system can quickly turn your neighborhood into a watery wonderland.
Florida, with its flat topography and a network of waterways, is basically a red carpet for floods. Urban development and those unforgiving non-absorbent surfaces only add to the drama. The state’s annual 53.7 inches of rainfall can put any waterpark to shame.
If you’re still hesitant, how about some flood fun facts to pique your interest:
- One mere inch of water can dish out a $25,000-plus bill for home damage.
- Ever heard of 1.2 million single-family homes dancing with storm surge during a Category 1 hurricane? Well, in Category 5, it’s an invite for over 7.5 million.
- In the blink of an eye, according to NOAA, flooding can turn your day into a soggy episode of survival.
FEMA’s flood maps, the guiding light in the dark alleys of flood risk, have their quirks. They’re like that antique clock you promise to fix but never quite get to. While FEMA has noble plans to update its maps every five years, two-thirds of them are trapped in a time warp. Some maps have been chillin’ for over 40 years.
Looking for a flood map? You can easily search here.
Inhabitants of high-risk flood zones and Special Flood Hazard Areas (SFHAs), with federal backing, are ordered to arm themselves with flood insurance. But counting solely on mandates or outdated federal maps is a rather soggy plan. A glance at Hurricane Harvey tells the story: over 204,000 Houston homes got a taste of flooding, and the majority were happily sitting outside the snug confines of the federally regulated 100-year floodplain. Surprisingly, over 80% of these homeowners forgot to bring their flood insurance.
The demand for flood insurance is heating up, thanks to climate change. Four key culprits intensify flood risk:
- Heavier Precipitation: The warmer the atmosphere, the more moisture it hoards. That translates to heavy rain and an increased chance of floods.
- Melting Snow: Rising temperatures speed up the snowmelt process, causing spring floods.
- Frequent Hurricanes: We’re in the age of superstorms. Climate change pumps up the volume, delivering more category 4 and 5 hurricanes, drenching the landscape.
- Rising Seas: Oceans are bulging due to warmer temperatures, which means more high-tide flooding and storm surges.
Now, the financial truth bomb: floods don’t come cheap. The National Flood Insurance Program (NFIP) paid over $62 million in claims after Hurricane Ida in 2021. While this may not be the wallet-draining spectacle of Harvey or Katrina, it’s still a hefty tab. Consider that in 2019, the national average flood claim payout was a cool $52,000, and for Florida homeowners, it was around $29,000.
Imagine an unexpected $29,000 repair bill. For many families, it’s a financial tornado that could sweep their home away. This is precisely why flood insurance isn’t a luxury; it’s a life jacket for everyone, ensuring that no one is left stranded after a deluge of trouble. Be sure to reach out to your Agent today to learn more about securing flood insurance for your home through Swyfft.