Harris County Texas Homeland Security and Emergency Management
If you were hit by a flood or other natural disaster today, would you have enough money to rebuild? The truth is, probably not. In fact, two out of every three homes in the United States are underinsured when it comes to natural disasters such as earthquakes and floods, and many don’t know it.
This is mainly because many property owners don’t carry enough insurance to cover damage from wildfires, extreme wind events and hurricanes. And most homeowners and renters insurance policies typically do not cover damage from natural disasters like floods and earthquakes. In fact, approximately 80% of the residents in the areas hit hardest by Hurricane Harvey in 2017 did not have flood insurance.
Everyone needs to rethink their insurance coverage and make sure they’re adequately covered from disaster losses including flood.
Floods can happen anywhere at any time during the year. You do not need to live near the coast to experience a flood. They happen in all 50 states and 98% of counties in the U.S. have experienced a flooding event.
Floods are the most common and costly natural disaster in the US. Just an inch of water can cause up to $25,000 in damage. Without flood insurance, you are left to cover that cost on your own. Federal disaster aid provides limited help for property owners, often in the form of a loan which must be paid back.
Insured survivors are able to recover faster and more fully from floods or other catastrophic events than their uninsured neighbors. Across the board, families and communities which have the most hope after a disaster are the ones who’ve made adequate insurance coverage part of their resilience strategy.
Check ALL your insurance coverage. Talk with your insurance agent if you have proper coverage for disaster losses – even from events you don’t think are as likely to happen like earthquakes and flood. Consider buying a flood insurance policy from the National Flood Insurance Program. Call your insurance agent or visit floodsmart.gov to learn more.