In the United States, many home or business owners buy flood insurance because floods have common occurrence on some locations and people have fear of loss or damage to property due to these floods. This fear is more among people who live near water bodies. The truth is something else. Flowing water can cover a long distance in a few minutes and therefore, nearness or being away from water bodies doesn’t have influence on floods. However, altitude of your location has great impact because low-lying areas are more vulnerable to floods.
Factors that impact flood insurance buying decision
Now, the question that flood insurance is most suited to homes that are located near one or more water bodies seems to be ridiculous. One more aspect is very important in this context. Flood can sometimes cause damage in low or moderate risk areas instead of high risk areas. So, you cannot say that insurance for flood is always needed for high-risk zones but this is usually recommended. You can be guided by the past history of floods in your location before you buy insurance cover for flood. Having access to flood insurance FEMA historic Flood Insurance Rate Maps (FIRMs) is the best guide to implement your decision.The insurance data shows that nearly one-fourth of reimbursed insurance claims are not related to high-risk zones. This means that major water bodies are not usually responsible for causing floods and probable reason may vary from slow moving rainstorm to a damaged sewer line or burst water pipe. For more information visit website #flood insurance.
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