When Fountain Hills experienced four major storm bursts in less than 24 hours in October, numerous people who did not live in flood zones found themselves in trouble. Some scrambled to keep water out of their homes by various methods. Some were not so lucky, incurring tens of thousands of dollars in flood damage to their homes with no insurance coverage.
Flooding is the number one natural disaster in America, yet many home insurance policies and most commercial property policies do not cover flooding.
If your home is in a flood zone, your mortgage company will require flood insurance. Yet, if you aren’t in a flood zone, it doesn’t mean you’re not at risk. Arizona’s increased storm intensity in the last two years has shown that Fountain Hills homeowners should consider getting a flood insurance policy.
Keep in mind that flood insurance will cover physical damage to your building or personal property directly caused by a flood. A common misperception is that you must live in an active flood zone (as defined by FEMA, the Federal Emergency Management Agency) in order to purchase flood insurance.
According to local Farmer’s Agent, Scott Schlossberg, this is not true!
Check with your insurance company to see how you would be covered in the case of a flood.