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Several Inches of water above the ground can cause massive damages and environmental hazards in Kentucky or Indiana. In the past ten years,the national average for flood has been at least $42, 000 dollars. However flood risk in both Georgia and South Carolina are significantly higher than the national average. According to the National Flood Insurance Program (NFIP) claim stats, Georgia experienced the 11th highest loss nationally. During the same period, South Carolina ranked third. . While Kentucky and Indiana each ranked near the middle, they paled in comparison to South Carolina and Georgia claims covered by the NFIP. .
Both heavy rains and violent storm surges are associated with Hurricanes. With this in mind it's easy to understand that the Georgia and South Carolina markets that TruePoint serves, have greater flood exposure. Just how much more risk are the coastal markets exposed to. With NFIP claims of $540,000 In 2016, Indiana ranked 28th nationally. At the same time the $140 million in claims made by South Carolina's insureds war nearly 260 times greater.
So the messages is pretty clear. Flood risks in Georgia and South Carolina, especially coastal areas, need to make reviewing their flood exposures a high priority. While Georgia flood risk are significantly higher, that doesn't mean that Kentucky commercial property or homeowners can take a pass.
Below are reasons why you may need flood insurance in any of the region's served by TruePoint Insurance.
Everybody lives in a flood zone
It all comes down to the amount of risk posed, but generally, every residence can experience flooding to a particular extent. To know the exact risk of flooding in your home, you should consult the National Flood Insurance Program. However, if you study the most recent FEMA flood maps, you will find zones A and V which are considered as high-risk areas. Zones B, C, and X are considered to be moderate-to-low risk areas whereas the risk in zones marked D isn't known.
At least 20% of flood insurance claims are from moderate-to low zones
In case you live in a moderate-to-low zone, you might presume that you don't require flood insurance since the probability of flooding is low. However, at least one in every five insurance claims are from these zones without counting the homeowners who aren't insured. As such, it is imperative to purchase flood insurance coverage to be on the safe side.
You can’t rely on government aid
Government aid comes in the form of loans which have to be repaid later. Rarely will you get grants from the government to compensate for damages caused by floods. Also, not everyone qualifies for a loan, and if you do, you will have to wait for a long approval process. To avoid liability, it is high time you purchased flood insurance.
Purchasing a flood insurance policy is the best way to protect yourself from flood hazards. TruePoint Insurance can help you examine your area's risk and recommend the best flood insurance coverage for you.
Flood insurance is a significant investment for all homeowners despite the flood risk associated with your locality. Visit TruePoint Insurance in Fisherville, KY, Lawrenceburg, KY and now in Pooler, GA, to secure a flood insurance coverage toprotect yourself from liabilities and damages.