Devastating floods can occur throughout the United States anytime of the year. Here are some things you should consider about floods and Flood insurance.

• You don’t have to live by water to be at risk. Anywhere it rains, it can flood.  Approximately 25-30% of all flood claims occur in low- to moderate-risk areas.
• Most Homeowners insurance policies do not cover flood damage — federal Flood insurance does. Flood insurance also covers damage from mud flow, dirt and debris resulting from moving water.
• A home in a high-risk area has a 26% chance of being damaged by a flood during the course of a 30-year mortgage. That same home only has a 9% chance of a fire.
• In order to receive federal assistance in the event of a flood, the President of the United States of America must declare the flood area a federal disaster. Less than 50% of floods in the U.S. are classified as federal disasters.
• The most common form of Federal disaster assistance is a loan that must be repaid with interest.
• Flood insurance is affordable. Flood damage is not. In 2007 alone, flood insurance claims in the United States were nearly $600 million, with an average claim of $33,356. Compare this to the average annual flood premium of $540.

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