Flood Insurance in Palo Alto

Posted on: June 9th, 2017

SBC can help you with flood insurance in Menlo Park, Mountain View, Palo Alto or Sunnyvale.

In today’s world of climate change you don’t want to be without flood insurance. Floods have long been the leading cause of property damage and things are getting worse. Weather systems are becoming more severe and flooding can occur in areas you would not have thought possible some years back. In fact, the risk is so great that many insurance companies simply refuse to offer flood insurance. You will find that the standard home owners insurance policy specifically excludes flood insurance.

Insurance companies fear floods partly because the chance of a 100-year flood is higher than the risk of fire. However, fire damage happens in contained locations and can be covered by insurers. This is not true of floods. Floods cause havoc over entire regions in one go and this could mean bankruptcy for an insurer.

That is why you may well need the help of your local insurance agent to find coverage for flood damage. You also need to consider whether you are in a Special Flood Hazard Area (SFHA). The SFHAs are defined on the Flood Insurance Rate Map (FIRM) for a community. You may need to get flood insurance through the National Flood Insurance Program (NFIP).  The government acts as the insurer under the Federal Insurance Administration (FIA) and FEMA. However, this type of flood insurance is offered on a community basis. Your community must participate in NFIP and enforce federal floodplain management regulations to qualify.

SBC insurance can help determine the status of your property and they can help you find the best flood insurance available in your area. The consequences of not having proper flood insurance can be financially devastating.

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