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THINK THIS WILL NEVER HAPPEN TO YOU???
Things You Should Know About Flood Insurance For most of us, our home is by far our most valuable possession. But every year, more homes in the U.S. are damaged by floods than any other natural disaster. People who live near water are not the only ones who can experience flooding. Floods move, and can spread for miles. They can have strong currents that, in moments, can sweep away everything that took a lifetime to accumulate, leaving a thick residue of mud and debris behind. It's not just high risk areas that can be flooded. Between 20 and 25 percent of flood insurance claims come from a medium or low flood-risk areas. The fact is, a flood could happen to you. Fortunately, 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). Under FEMA's National Flood Insurance Program (NFIP), Federally backed flood insurance is avilable in communities that adopt and enforce regulations to reducce flood losses. Flood insurance provides coverage that your homeowners insurance doesn't - coverage for damage caused by floods. The good news is that more than 19,000 communities in the United States and its territories that are faced with the potential flooding participate in the NFIP, so the chances are excellent that flood insurance is available to you. Flood insurance is far better protection than depending on Federal disaster assistance, which is avilable only is a disaster is Federally declared.
If you have a flood insurance policy, you can be reimbursed for all your covered losses, even if a disaster is not Federally declared. 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. 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. Flood insurance is affordable. The average flood insurance premium costs approximately $390 a year for an average of $100,000 coverage. 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 of recovery. Protect yourself, your home, your family, and your financial future. Our company participates in the NFIP. Ask for details about how to buy flood insurance. Do it today. Policies go into effect 30 days after a policy is purchased. Protect your home and your family today. As long as your community participates in the National Flood Insurance Program, except for areas protected by the Coastal Barrier Resources Act, you can purchase a flood insurance policy. Whether you live in an area likely to flood or in one that is at a low-risk, you can purchase flood insurance. There are times when you may be required to purchase flood insurance. If you buy a house in a designated high-risk area, and recieve a mortgage loan from a Federally regulated lender, your lender must, by law, require that you buy flood insurance.
Preferred Risk Policies Some policies can qualify for a Preferred Risk Policy if you live in a B, C, or X zone. Click here for home. Click here for business. Of all natural causes that have occured in the last 5 years, floods caused 61% of all property damage. When a flood occurs, there is no guarentee that Federal assistance will be available or that you will qualify for it. Before any flood victim is eligible to receive Federal disaster assistance, the President must declare a Federal disaster. Even then, disaster relief is often low interest loan that must be repaid, in addition to your mortgage and other debts. And, you must be required to purchase a flood policy as a condition of recieving Federal assistance. Your best financial protection from floods is a National Flood Insurance policy. |
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