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Tuesday, May 5, 2009

Hurricane season starts June 1st - November 30th

Hurricane season starts June 1st - November 30th

Floods and flash floods happen in all 50 states.
Everyone lives in a flood zone. (For more information, visit our Flood Zones FAQs.)
Most homeowners insurance does not cover flood damage.
If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a Federally backed mortgage, your mortgage lender requires you to have flood insurance. (To find your flood risk, fill out the Flood Risk Profile to the left.)
Just an inch of water can cause costly damage to your property.
Flash floods often bring walls of water 10 to 20 feet high.
A car can easily be carried away by just two feet of floodwater.
Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
New land development can increase flood risk, especially if the construction changes natural runoff paths.
Federal disaster assistance is usually a loan that must be paid back with interest. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).
It takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the floodwaters start to rise.
Your home has a 26% chance of being damaged by a flood during the course of a 30-year mortgage, compared to a 9% chance of fire.
Last year, one-third of all claims paid by the NFIP were for policies in low-risk communities.
The average annual U.S. flood losses in the past 10 years (1994-2004) were more than $2.4 billion.
More info at

Below are packaged prices for zones that don't have a history of flooding in Harris county, typically referred to as "non flood zones". This is a government policy so the price should be the same, no matter which company the policy is purchased from.

Building and Contents Coverage (Without Basement)

Building Coverage Contents Coverage Premium
$20,000.00 $8,000.00 $119.00
$30,000.00 $12,000.00 $148.00
$50,000.00 $20,000.00 $196.00
$75,000.00 $30,000.00 $230.00
$100,000.00 $40,000.00 $257.00
$125,000.00 $50,000.00 $277.00
$150,000.00 $60,000.00 $296.00
$200,000.00 $80,000.00 $326.00
$250,000.00 $100,000.00 $348.00

($500 deductibles each)

The package for $250,000 of dwelling replacement cost and $100,000 Contents Coverage (actual cash value, not replacement cost) is the most coverage you can purchase for residential that is backed by the government. However, you can purchase additional coverage that is not backed by the government.

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