Flood Insurance

Client Centered

Who needs Flood Insurance?  The answer is "Everyone."

Natural disasters aren’t the only cause of a flood though—flooding can come from just about anywhere. This has left many of us asking the same question: Do I need flood insurance? 

Ironically, despite the loss flood victims may face, the homeowners likeliest to come out on top financially are those in the high-risk flood zones because their mortgages require them to carry flood insurance coverage.  While you may not be able to remove the risk of flooding, you can take measures to considerably reduce your risk—both financially and physically. By talking with ACBI Insurance to see if flood insurance is the right fit for you, understanding your options, and planning ahead, you will be armed with information to make the best choices for both your home and your family.

Did You Know? Flood Facts

Since Hurricane Katrina in 2005, the number of homeowners nationwide with flood insurance has declined to just 12%. Even in coastal areas, only about 20% of homeowners have flood insurance. Why is that? Are those of us without flood insurance truly safe from a flood, or do we simply have a false sense of security? Here are several quick facts about floods you might find surprising.

  • The damage from just one inch of water can cost a homeowner more than $20,000.
  • Flash floods typically carry water between 10 and 20 feet high.
  • It takes just six inches of fast-moving water to knock over an adult and 12 inches to sweep away a small car.
  • Water moving at 10 mph can wield the same pressures as wind that’s moving at 270 mph.
  • If you live in a 100-year flood plain, your home has a 1% chance of flooding every year. In the last three years, Houston alone has seen at least three 500-year floods.
  • If you live in a single family home valued at less than $250,000 and it gets flooded, you’re likely to incur more damage on your home than it’s worth.
  • If you live in a flood plain or a high-risk area, you are required to have flood insurance if your home has a federally backed mortgage.

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