No one is safe from flood damage. According to the Federal Emergency Management Agency (FEMA), everyone lives in a flood zone. A flood zone is a geographically-defined area that is at risk of flooding, ranging from low-risk to high-risk. Although every home is located in a flood zone, a standard home insurance policy does not include flood insurance and only 14 percent of Americans have a flood insurance policy in place. Mason-Dixon Polling & Research, Inc. found that half of all homeowners in the country think that their standard home insurance policies cover flood damages.

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Depending on the insurance company, a flood insurance policy allows for reimbursement for actions you take to prevent flood damage. This includes purchasing pumps, plastic sheeting, sand bags, and lumber to save the home’s structure. Flood insurance is relatively inexpensive, considering the amount of coverage you receive and the amount of damage a mere one to two inches of water can inflict upon your home and personal property.

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Purchasing flood insurance is fast and easy. Flood insurance can cost you as little as $200 per year, but the average policy usually costs $300-$400 per year for $100,000 of coverage. There is no reason not to protect your home against flood damage. Keep in mind that your flood insurance policy will not go into effect until 30 days after the date of purchase.

• Flooding causes more than $2 billion in property damage, nationwide, each year.
• In the course of your home’s 30-year mortgage, your home has a 26% chance of suffering damage from a flood, compared to a 9% chance of a fire.
• Approximately 25% of all flood insurance claims are made in low-risk to moderate-risk flood zones.