Protecting Your Home: Why Flood Insurance is Essential Beyond Coastal Areas

The Widespread Impact of Hurricanes

The 2020 Atlantic hurricane season has already seen an above-average intensity, with three named storms forming and Tropical Depression Cristobal causing widespread flooding and powerful winds. While coastal states are often the focus of hurricane preparedness, the impact of such storms extends far inland. Cristobal, for instance, is forecast to move from the lower Mississippi Valley to the Midwest, bringing heavy rain and strong winds. If it crosses into Wisconsin as a tropical depression, it would mark a historic first for the state.

The Hidden Danger of Inland Flooding

Inland flooding has resulted in more deaths from hurricanes and tropical storms in the U.S. over the past 30 years than any other threat. While wind speeds and storm surges are significant, flash flooding from intense rainfall impacts a larger area and more people. About 90 percent of all natural disasters in the U.S. involve flooding, making it a critical risk to consider.

The Importance of Flood Insurance

Experts like Dan Kaniewski, former deputy administrator for resilience at FEMA, strongly urge everyone to buy flood insurance. 'Any home can flood,' he emphasizes, noting that flood insurance is not included in standard homeowners policies. Dr. Rick Knabb, an on-air hurricane expert, recounts his own experience of being advised against flood insurance for a new home, which he insisted on purchasing. Despite 2019 being the second-wettest year on record in the U.S., flood insurance purchase rates remain low. For example, during Hurricane Harvey in 2017, the average FEMA payout for uninsured homeowners was about $3,000, compared to $110,000 for those with flood insurance. Unfortunately, even within designated floodplains, two-thirds of homeowners do not have flood insurance.

To protect your home and financial stability, consider the following tips: 1) Assess your flood risk using FEMA's flood maps. 2) Understand that standard homeowners insurance does not cover flood damage. 3) Research and purchase a flood insurance policy through the National Flood Insurance Program (NFIP) or private insurers. 4) Review your policy regularly to ensure it meets your current needs.