Flood Insurance in California
Floods and flash floods are the most common natural disaster in the country, which may occur anywhere anytime – in plain areas, mountains, on coasts, along rivers, or even in the middle of a desert. According to the National Flood Insurance Program, about 25 percent of the claims come from low risk areas. This means that you don’t need to be living in a high risk area for a flood to strike your home or property.
Protection Against Flood Damage
Most homeowner’s insurance policies do not cover flood damage. The NFIP and many private insurance companies offer coverage for flood insurance to homeowners, business owners, renters, if their community is one of the 20,000 communities that participate in the NFIP. Since floods may cause significant losses, all property owners, including those that rent property, must consider purchasing insurance so as to guard or cover their property against damage from flooding.
If you live in a high-risk flood area or Special Flood Hazard Area, it is mandatory to buy flood insurance to secure financing for your home or property. However, if you stay in a low risk zone, flood insurance is an affordable form of protection against any kind of damages or losses that might occur from a flood disaster.
Types of Flood insurance coverage
- preferred risk policy
If you finally decide to take flood insurance coverage, remember that it becomes effective at least 30 days from the premium payment date. It is a better option to apply for the insurance coverage in advance before the flood strikes and devastates your property and belongings.
Flood insurance is affordable
An average flood insurance policy may cost you as little as $353 annually for covering you against damage or loss incurred by natural disasters, such as floods caused by rains, hurricanes, dam or levee failure, or river floods.
To get the absolute cheapest flood insurance rates in CA, please vist www.californiafloodinsurance.com