Sacramento Flood Insurance Facts
- According to FEMA, flooding is the most common natural disaster
- Homeowners Insurance WILL NOT cover damages from a flood
- Preferred Risk Policies provide protection at the best price
- FEMA designated parts of Sacramento as high-risk flood zones. Prices will QUADRUPLE by December 2008!
- Take advantage of the Preferred Rates now and get grandfathered in at a lower rate next year.
According to FEMA, flooding is the most common natural disaster
- According to FEMA, between 2000 and 2007, the President declared 62 instances of flooding as natural disasters. Between those years flooding actually accounted for more declared natural disasters than hurricanes, snow stroms, and fires all put together. In fact, many of the people who suffered as a result of these floods didn't even live near water and had never experienced a flood before. Each year flash floods, inland flooding and seasonal storms cause damage and financial hardship to people all over the country. Studies show that 30% of the flood insurance claims submitted each year come from areas that are classified as low-to-moderate-risk areas. Get Sacramento flood insurance now and protect yourself and your family from flooding.
Homeowners Insurance WILL NOT cover damages from a flood
- Homeowners insurance policies specifically exclude floods from coverage. In the event of a catastrophic flood, homeowners insurance companies will be of no assistance when trying to recover from a flood. Only federally backed flood insurance truly protects your home and your personal property from financial devastation in the event of a flood. A flood insurance policy will cover the policy holder for all covered losses that result from the flood and unlike a disaster loan; you don't have to pay the money back.
Preferred Risk Policies provide protection at the best prices
- Home owners can purchase $250,000 of building and $100,000 of contents coverage right now for as low as $317 per year if they are in a preferred risk zone. Only homes that FEMA has determined to be located in low-to-moderate-risk zones would be able take advantage of these low rates. For a short while longer Sacramento is still in one of these qualifying zones, but as soon as the zone designation changes to high risk in December 2008, the prices will go upwards of $1300+ and everyone will have to purchase flood insurance whether they want to or not. Don't wait- flood insurance policies take 30 days to go into effect. Get grandfathered in now.
FEMA is in the process of rezoning parts of Sacramento as a high-risk flood zones. Prices will QUADRUPLE by December 2008!
- On January 15, 2008 the Federal Government announced that they would change the zone in some parts of Sacramento from a preferred "X" zone to a flood hazard zone. A study conducted by the U.S. Army Corps of Engineers indicated that the levies surrounding Natomas, CA did not meet the minimum requirements of being able to withstand a 100 year flood and therefore FEMA announced that they would place Natomas in an "AE" flood zone, which is a flood hazard zone. In December of 2008 the new zone maps will be finalized and the new zone will essentially halt all new construction in the area as well as make it required that all properties with a federally backed loan carry a flood insurance policy. As soon as the new maps are finalized in December, homeowners will be required to purchase flood insurance and annual rates for the same flood policy you could purchase now for $317 will rise to approximately $1,390. That is over four times the current rate!
Take advantage of the Preferred Rates now and get grandfathered in at a lower rate next year.
- Anyone who purchases a Preferred Risk Flood Insurance Policy before the new maps are finalized will be grandfathered in at a lower rate for as long as they keep the policy. Sacramento homeowners who wait and purchase a flood insurance policy once the area is rezoned will have to pay $1,390. Purchase a policy today and get grandfathered in now.
