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NEWS you can use

April Showers Bring... Flooding!

4/13/2018

7 Comments

 
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In 2017, there were 16 separate disasters in the U.S., which generated total record losses in excess of $306 billion (1). Most damage was the result of flooding, including historic floods associated with Hurricane Harvey in Texas and Louisiana, and record high water levels in Missouri, Arkansas and Illinois.

Here are facts you should not ignore:

  • Flooding can happen practically anywhere at any time
  • 25% of all flood damage occurs in low- to moderate-risk areas
  • Floods occur in all 50 states
  • Flooding is the costliest and most common natural disaster in the U.S. (2)
  • Most Americans are seriously under insured

In the Northeast, floods can occur from spring snow melt, rapid rainfall, changing weather patterns and clogged rainwater systems. In general, they can also occur from tropical cyclones, structural failure leading to flash floods, or new building development.

It doesn't take much water to destroy a property and wipe out the finances of an uninsured homeowner or business. The National Flood Insurance Program (NFIP) estimates that 1 inch of water in a home can create $20,000 worth of damage (3). And yet, few property owners have flood insurance (besides those in high-risk areas who are required by their lenders to purchase NFIP policies).

Think about this:

  • Only 12% of U.S. homeowners had a flood insurance policy according to an Insurance Information Institute poll in 2016 (4)
  • Less than 20% of homes damaged in Hurricane Harvey were insured for flood.
  • 56% of respondents mistakenly believed that a standard homeowners policy covers flood damage according to a March 2017 survey.
  • Most business insurance policies exclude flood damage.
  • Flood maps are drawn by FEMA. Some research suggests that current flood maps seriously underestimate those in the high-risk 1-in-100-year floodplain, and one study suggests 40 million Americans, instead of the current estimate of 13 million, are at high-risk.
When considered together, these statistics paint a grim picture for Americans who don’t currently have flood insurance.

What about you?

A licensed insurance agent can help you understand the different insurance products available. Even with government-backed NFIP policies, some people may need excess coverage to cover up to replacement cost, and still others may benefit from various coverage options available with private insurance products instead of an NFIP plan, when available.

Ask a licensed Connecticut Insurance Exchange agent about flood insurance today.

Source: (1) According to the National Oceanic and Atmospheric Administration (NOAA). (2) FBLIC (3) National Flood Insurance Program (NFIP) (4) Insurance Information Institute Poll

7 Comments
Erica link
11/23/2020 09:11:26 pm

Helllo mate great blog post

Reply
Andrew link
2/10/2023 06:22:59 am

Thanks a lot for sharing the post, very insightful!

Reply
Flooded Basement Cleanup link
4/3/2023 08:33:39 am

Insightful, thank you for providing it. I like all the facts you have discussed above in the post such as flooding can happen practically anywhere at any time. 25% of all flood damage occurs in low- to moderate-risk areas. Awesome post. Love to read Keep it up, thanks!

Reply
david
9/16/2023 05:50:49 am

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Kate link
10/7/2023 01:09:13 pm

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The topic you've covered is of significant relevance to our society. [Insert the topic of the news article]. Your thorough research and balanced reporting have shed light on the nuances of this issue, making it easier for readers to understand the complexities involved.

I particularly appreciate how you've included various perspectives and expert opinions in your article. This helps readers get a more comprehensive view of the situation and encourages critical thinking. In a time when misinformation and polarization are rampant, your commitment to presenting facts and diverse viewpoints is commendable.

Furthermore, your writing style is clear and engaging. You've managed to make a potentially dry or complex subject matter interesting and accessible to a broad audience. This skill is invaluable in the field of journalism, where the goal is not only to inform but also to captivate and engage readers.

One aspect that I found especially valuable in your article was the historical context you provided. Understanding the roots of the issue and how it has evolved over time is crucial for grasping its current significance. Your article did an excellent job of connecting the dots and showing the trajectory of events.

I also want to applaud your commitment to ethical journalism. It's evident that you've taken care to fact-check and verify your sources, which is essential in maintaining credibility. In today's era of "fake news," responsible journalism is more important than ever, and your article sets a positive example.

Lastly, I want to express my gratitude for keeping your reporting objective and unbiased. In a time when sensationalism and bias have become all too common, your dedication to presenting the facts without personal bias is refreshing.

In conclusion, your news article has not only informed me about an important issue but has also showcased the qualities that great journalism should embody: accuracy, balance, and a commitment to truth. I look forward to reading more of your work and staying informed on critical issues through your reporting. Keep up the excellent work, and thank you for your dedication to quality journalism.

Reply
Tracy G. Taylor link
10/30/2023 08:46:25 am

Thanks for sharing

Reply
Portalaranduh link
11/16/2023 10:37:03 pm

Great post, thanks for sharing it.

Reply

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    Melanie Thomson-Tregoning is a Licensed Insurance Agent and VP of Marketing for Connecticut Insurance Exchange, Ltd.

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