Policies go into effect 30 days after a policy is purchased. If it does, ask for details about how to buy flood insurance. Protect yourself, your home, your family, and your financial future.Ĭall your insurance company or agent to find out if your community participates in the NFIP. However, paying back a $50,000 disaster home loan, for example, will cost an average of $311 a month - for an average repayment period of 20 years! And of course, if you are not insured, and a Federal disaster is not declared, your home and belongings may be ruined with no hope for recovery. The average flood insurance premium costs approximately $390 a year for an average of $100,000 of coverage. Then, if you suffer losses due to flooding, you will be reimbursed for your covered losses, and you'll never have to pay a nickel back.įlood insurance is affordable. In contrast, Federal disaster assistance is often a loan - repayable in full - with interest! With a flood insurance policy, all you have to pay is one annual premium. If you have a flood insurance policy, you can be reimbursed for all your covered losses, even if a disaster is not Federally declared. Calcasieu Parish is a participating community in the National Flood Insurance Program.įlood insurance is far better protection than depending on Federal disaster assistance, which is available, only if a disaster is Federally declared. The good news is that more than 19,000 communities in the United States and its territories that are faced with potential flooding participate in the NFIP, so the chances are excellent that flood insurance is available to you. When you purchase flood insurance, there is a 30-day waiting period before coverage begins. Flood insurance provides coverage that your homeowners insurance doesn't - coverage for damages caused by floods. Under FEMA's National Flood Insurance Program (NFIP), federally backed flood insurance is available in communities that adopt and enforce regulations to reduce flood losses (Calcasieu Parish is one of these communities). The fact is, a flood could happen to you.įortunately, you can protect yourself and your future from the crippling financial losses often caused by flooding through a program administered by the Federal Emergency Management Agency (FEMA). Between 20 and 25 percent of flood insurance claims come from medium or low flood-risk areas. It's not just high-risk areas that are flooded. They can have strong currents that, in a few moments, can sweep away everything that took a lifetime to accumulate, leaving a thick residue of mud and debris behind. People who live near water are not the only ones who experience flooding. Homeowner’s insurance DOES NOT cover damage caused by flooding! You must purchase a separate policy from your insurance agent. Every year floods damage more homes in the U.S. Financial Assistance for Mechanical Sewer Systemsįor a quick look at how you can protect your home, see Flood Insurance Basics.įor information concerning your flood risk, and details on how to protect yourself and your property, please visit įor most of us, our home is by far our most valuable possession.
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