In the last 8 weeks we’ve seen countless people displaced by flooding in Maryland and Louisiana. The images we see on the news are heartbreaking; families left with nothing, whole communities under water. Per the National Weather Service, in the last year there have been eight examples of storms that are considered to be “500 year rainfall events”. Extreme rainfall, high water levels and the resultant flooding are becoming increasingly unpredictable as our climate changes and development alters the flow of water through regions. Warmer oceans create more humidity, which increases rainfall and overwhelms our aging drainage systems.

Have you been basing your decision to forego flood insurance on knowledge of past floods? This could cost you. Just 3 inches of water in a 2,000 square foot house would be approximately $22,600 in damages. That’s smaller than the depth of most baseboards! A foot of water in that same house climbs to $52,220. In Louisiana, more than 31 inches of rain fell over the course of just 15 hours.  With the changing climate and a boom in development in our region, a dangerous stage has been set. Fortunately, flood insurance is available.

The purpose of this is not to frighten you, nor is it to say that everyone needs to have flood insurance. We merely want to start a conversation with our clients and get them thinking pro-actively about their coverage. The statistics for extreme storms rely heavily on the assumption that the climate of the past is similar to the climate of today, and that simply isn’t the case. As a business or homeowner, you need to consider a few things:

1. Only you know your ability to financially cope with a flood loss, so check out this link to Flood Smarts Flooding Calculator to help determine if your family can afford a loss.
2. For a business, can you afford the loss of business and the repairs to your damaged facility or stock? Your commercial insurance coverage for loss of business would not respond for a loss that is not covered by your policy.
3. If your family has the assets to repair a flood loss, how will that affect your finances moving forward? Will college funds or 401(k)s need to be altered? Are you on a fixed income?

Particularly if you’re living in a low risk area, there is some extremely affordable coverage’s available. Call us today for your free, no commitment quote.