Flood Zones, technically called Special Flood Hazard Areas (SFHAs), are designated by the Federal Emergency Management Agency (FEMA). National Advisors Group can help you determine if your property is in an SFHA, where flood insurance can protect you against a catastrophic loss and may be required by your mortgage lender, or if it’s considered to be in a preferred zone, which is an area that is less likely to flood. If you live in a low-risk flood zone, affordable coverage known as ‘preferred risk’ policies can give you the protection you need at the right price. Just because your home is located outside of an SFHA doesn’t mean it will never experience a flood.
Floods have become the most common and costly natural disaster in the United States. While floods are most common in coastal areas and near rivers and lakes, a flood can happen anywhere. Even in dry areas it is not uncommon for built up rain waters to flow into basement windows and down stairwells causing considerable damage. Just one inch of water in an average sized home can cause more than $25,000 in damage.