Flood Insurance
Is Your Home or Business Adequately Protected from Flood Damage?
Did you know your Homeowners Insurance does not cover Flood Damage?
Are you Eligible for Federally Subsidized Flood Insurance Coverage?
Below are answers to some common questions about Flood Insurance.
Why Do I Need Flood Insurance?
If your home or business is located in Southeast Louisiana, you need flood insurance! Southeast Louisiana has an exceptionally high risk for flooding for numerous reasons. Above all, Southeast Louisiana is one of the lowest lying coastal regions of the country which makes the area particularly vulnerable to flooding from hurricanes.
Louisiana is hit by more hurricanes than any other state except Florida and Texas! Damage to homes and businesses from a hurricane are not rare occurrences but a regular part of living along the Gulf Coast. Hurricanes causing exceptionally wide spread flood damage such as Hurricane Katrina in 2005 or Hurricane Betsy in 1965 may only occur once every 40 years or so. However, a sobering statictic from the National Weather Service is that on average, New Orleans gets brushed or directly hit by a hurricane or tropical storm every 2.27 years.
Even a relatively weak hurricane like Hurricane Issac in 2012 caused extensive flooding from storm surge and heavy rains all around the New Orleans area. Although the city itself avoided heavy flooding, communities around New Orleans such as Slidell to the east and Saint John the Baptist Parish to the west suffered extensive flooding.
New Orleans is the wetest city in America!
Despite popular belief, New Orleans, not Seattle, has more rainfall than any major city in America. With over 63 inches of rain a year, New Orleans has installed the world’s largest urban pumping system to cope with potential flooding from heavy rains. In addition to New Orleans, pumping stations help protect other communities within the levee system such as Metairie, Kenner, Chalmette and the Westbank of Orleans and Jefferson Parishes.
Even with these world class pumpimg systems, long time residents of New Orleans, Metairie, Kenner and other communities inside the levee system know that pumping systems can be overwhelmed by exceptionally heavy rains in short periods of time. As has happened many times in the past, heavy rains, with or without a hurricane, will always be a threat to homes and businesses (and vehicles!!!) in the New Orleans area.
Flood damage to your home or business is not always the result of severe storms!
In addition to storm surges and torrential rains, flood damage can result from many different situations. Pump station breakdowns, levee breaches and even backed up drainage systems can cause massive amounts of spontaneous flood damage to your home or business. Remember, it only takes a few inches of water to cause tens of thousands of dollars in damage to a home or business.
Does Homeowner’s Insurance include Flood Insurance?
NO! Flood damage is not covered by standard homeowners insurance policies! Many home and business owners are not aware that their homeowners insurance or commercial property insurance policies specifically exclude damage from flooding. It is advisable to purchase homeowners and flood insurance from a single source such as Alliance Insurance Agency Services, Inc. to be sure that overlaps and gaps in coverage are avoided.
Who is Eligible for Flood Insurance Coverage?
Federally subsidized flood insurance from the National Flood Insurance Program is available to homes and businesses throughout Southeast Louisiana.
Residential flood insurance provided by the National Flood Insurance Program is available to homeowners, condo owners, mobile and modular home owners as well as renters of homes, apartments and condos. Flood Insurance is also available for vacant homes.
Commercial flood insurance from the National Flood Insurance Program is also available to commercial building owners and renters. Flood Insurance is also available for builder’s risk projects such as renovation projects and new construction.
Flood insurance for residential and commercial property provides coverage for both buildings and contents however contents coverage is optional. Since contents coverage is optional, discuss insuring personal property or contents within your home or business with your Alliance Insurance Agency Services agent.
Alliance Insurance Agency Services, Inc. is authorized to sell low cost flood insurance protection provided by the National Flood Insurance Program for homes and businesses in the New Orleans area and throughout the state of Louisiana. Flood insurance from the National Flood Insurance Program can only be purchased through an authorized insurance agency, such as Alliance Insurance Agency Services, Inc. You cannot purchase flood insurance directly from the federal government.
How Much Flood Insurance Coverage is Available?
Residential Flood Insurance
The National Flood Insurance Program offers coverage for residences to a maximum of $250,000 of building coverage for single-family residential structures and $250,000 per unit for multifamily residents. The limit for contents on all residential buildings for both homeowners and renters is $100,000.
Commercial Flood Insurance
Commercial structures can be insured by the National Flood Insurance Program to a limit of $500,000 for the building and $500,000 for contents.
What Is Excess Flood Insurance?
Excess Flood Insurance picks up where National Flood Insurance leaves off.
Since the National Flood Insurance Program limits coverage to $250,000 for residential buildings and $500,000 for commercial buildings you may require extra or “Excess” flood insurance to adequately protect your home or business in the event of damage from a flood. Excess Flood Insurance provides coverage limits over and above the maximum limits available through the National Flood Insurance Program. Ask your Alliance Insurance Agency Services agent for more information about protecting your home and business beyond the coverage limits of the National Flood Insurance Program.
Make Sure Your Home and Business are Adequately Protected!
Get a Free Evaluation!
Contact Alliance Insurance Agency Services, Inc. for a free evaluation of your homeowners and flood insurance coverage. Alliance Insurance Agency can also provide a free evaluation of property insurance and flood insurance for your business.
For a free evaluation and quote, call Alliance Insurance Agency Services today!
For a Quick Flood Insurance Quote for your home or business, call Alliance Insurance Agency Services at:
Or use our convenient online Flood Insurance Quote Form
