- Flooding is not uncommon in Arkansas. Floods kill 140 people per year and cause $6 billion in property damage nationwide.
- Hurricane Katrina, which hit the gulf coast in late summer of 2005, was the costliest natural disaster in United States history, causing over $200 billion in damages.
- Arkansas is in a part of the infamous “Dixie Alley,” which experiences significant tornado activity throughout the year.
Arkansas homeowners have learned to live with the threat of flooding, but what many homeowners in Arkansas may not know is their home has a 26 percent chance of being damaged by a flood during the course of a 30-year mortgage. Damages to the home from flooding are not only traumatic to the structure (not to mention mentally unnerving), but flood damage can be traumatic to the homeowner's financial health as well. To protect your home and your financial health from flooding, it's best to invest in a homeowner's insurance policy that will cover you, your family, and your belongings in case this natural disaster occurs.
Currently, over 5 million people hold flood insurance policies in more than 21,000 communities across the United States. Insurance policies and costs can vary greatly in Arkansas as hundreds of insurance companies offer policies and many different factors can affect pricing/premiums. Such factors include:
- Type of structure or construction
- Risk percentage in your particular area
- How much coverage you feel you need.
The biggest mistake you can make is to do nothing at all; Arkansas residents need to prepare for these and other natural disasters by ensuring the right home insurance policy is in place. Hundreds of insurance companies, many of which are disreputable, sell homeowners insurance in Arkansas. It's difficult not only to differentiate the legitimate companies from the illegitimate, but it can be difficult for Arkansas consumers to find the right policy at the lowest possible price. At insurehome.net, you can find the lowest real-time insurance quotes in Arkansas.
