FACT: Floods are the nation’s most common and costly natural disaster and cause millions of dollars in damage every year. Floods cost America, on average, $8.2 billion each year (according to 2015 data). Recovering from just one inch of water inside your building can cost about $27,000. Learn about The BIG Cost of Floods.
FACT: Homeowners and renters insurance do not typically cover flood damage. FACT: Floods can happen anywhere--More than 20 percent of flood claims come from properties outside the high risk flood zone.
FACT: Flood insurance can pay regardless of whether or not there is a Presidential Disaster Declaration.
FACT: You may be required to have flood insurance. Congress has mandated federally regulated or insured lenders to require flood insurance on mortgaged properties that are located in areas at high risk of flooding. But even if your property is not in a high risk flood area, your mortgage lender may still require you to have flood insurance.
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