Flood Insurance Companies
Flood insurance companies, about one hundred in all across the country, offer coverage for damage from various water related sources, including mud slides that occur because of water related activity. The Federal Emergency Management Administration has developed a nationwide assessment of all US land, dividing it into high risk and low to moderate risk flood plains. Within these various zones are twenty thousand communities that belong the National Flood Insurance Program. Only citizens of these communities may receive a policy from flood insurance companies. The policies these companies sell provide the only hope people living in higher risk water damage plains have of ever recovering financially from a devastating deluge of water.
When a person thinks about flooding, the Gulf coast region as well as low lying areas of North and South Carolina and cities and towns along the Mississippi is viewed as being the most vulnerable, and well they are. The cost of water damage coverage from flood insurance companies for these especially vulnerable areas is extremely expensive. It is understandable why many people cannot afford to purchase the indemnity policy. A cynical eye might disparage those who remain in high risk water damage plain areas after being wiped out, but for many this has been the only place they have ever lived and would not move under any circumstances. But while someone from afar may look askance at living in such a water damage vulnerable area without having proper insurance coverage, the log in their eye is not as small as first thought.
FEMA reminds everyone that there are no non risk areas in the country. That might be a stretch for those living at seven thousand feet of elevation, but the point is well taken. When spring rains come, the frozen tundra of the Midwest provides no place for water to go except outward. Even small creeks can spread out several miles from their beds when conditions are right. Construction that has gone into the highest of gears over the past thirty years has produced asphalt and concrete parking lots that allow water to go nowhere but into nearby housing plats. Storm drains become clogged and begin to overflow, in Anywhere, USA and a place never thought in a million years to be vulnerable is the site of millions of dollars of water damage. In some of these areas that do not belong to the network of National Flood Insurance Program communities, there is no flood insurance companies' help, and homeowner's policies do not cover water damage from naturally occurring flooding.
FEMA also reminds citizens that one fourth of all the claims that are made from homeowners come for low to moderate risk areas of the country. Vulnerability to flooding is everywhere, because there are seventy four thousand dams across the country, meaning that a rupture in any of them will bring perhaps catastrophic flooding to many surrounding homes. When even a very small 2 inch flood enters in a typical nine square foot ranch home, FEMA estimates flood insurance companies face an almost eight thousand dollar claim if the homeowner is a policy holder. Ten inches represents almost twenty thousand dollars in loss from water damage. When troubles come into our lives, we can put our full and absolute faith in God as Moses declared in one of the psalms. "Before the mountains were brought forth or ever thou hadst formed the earth and the world, even from everlasting to everlasting, thou art God." (Psalm 90:2)
As mentioned earlier, the policies sold by flood insurance companies are not inexpensive, until there are has been major water damage and then they no doubt seem like a bargain. Covering a house worth fifty thousand dollars in a low risk area will cost the house owner about one hundred and twenty dollars a year and having contents covered can add to the price somewhat. A house having a value of two hundred thousand dollar and contents of a hundred thousand dollars in the same low risk area will be about three hundred and seventy dollars a year. But the issue really begins to surface when looking at the high risk zones across the country. Mandated flood insurance costs can be tough for home owners who may already be struggling to make ends meet.
For those living in high risk flood plains, the cost of covering that fifty thousand dollar house is about five hundred dollars a year and adding fifteen thousand dollars of furnishings takes it to about seven hundred dollars. For that two hundred thousand dollar house and fifty thousand dollars of inside loss, the cost is about two thousand dollars each year. But in the coastal high risk areas, the fifty thousand dollar house will need flood insurance companies' provided policy costing almost nine hundred dollars a year. The two hundred thousand dollar house and furnishings will set back a house owners about forty three hundred dollars a year. Those living in the highest risk portions of the country are mandated by mortgage providers to have the water damage policy offered by flood insurance companies or face the reality that no loan will be provided. Dropping the insurance after the mortgage is secured will only mean that the loan will immediately be called for payoff. Before considering a move to any part of the country, make sure that the house one is living in is not in a flood plain, and if so, how much the coverage will cost before signing on the bottom line.
Flood Insurance QuoteFlood insurance quotes provide consumers with the expected cost of coverage incase their property gets flooded. Such estimates are readily available online and off and are based on factors and variables, about the property that insurer uses to determine exactly what will affect their costs. Getting a flood insurance quote is a good idea as most home policies do not cover flooding.
These estimates will usually be an approximation of what the premiums will be, based on the amount of coverage on the home and separate coverage for the contents. With the flood insurance quote, the homeowner will see that they can purchase up to $250,000 worth of coverage for the building and up to $100,000 for the contents of their home. The flood insurance quote will include information on how the homeowner will have to have separate deductibles for each. According to the risk the home has of being flooded, the premium for an average estimate is approximately $300.00. A lower risk will lower the rate.
Most estimates are based on whether or not the home is in a designated flooding zone, where the insurance is then mandatory. But consumers can get a flood insurance quote just to be prepared, for factors such as storms, inadequate drainage, melting snow and hurricanes. The rates will reflect the concerns that the homeowner has. Flood insurance quotes also take into account the elevation of the building in relation to the base flood elevation and the age and design of the structure. Before giving the homeowner coverage, they may even send out a representative to examine the property and make a more accurate assessment of possible risk factors.
When getting the coverage rates, the homeowner will also find that using preventative measures can save money, even erase the deductible. Those who rent storage space to protect valuables or buy sandbags and lumber to make a barricade can be reimbursed. When getting flood insurance quotes, all these things will be taken into account. And just as God promises a canopy for Mount Zion in the days to come saying, "It will be a shelter and shade from the heat of the day and a refuge and hiding place from the storm and rain." (Isaiah 4:6) Flood insurance can be a canopy to protect one from a possible hurricane or other flood situations so the homeowner needs to select a reputable company and a plan that is right for their home.
Earthquake insurance quotes are offered through many private companies who have designed policies for homeowners and businesses that reside in earthquake prone areas. When determining the best earthquake insurance quote, it is helpful to know about the local region of the country. Although all 50 states are susceptible to earthquakes at any given time, and many regions have had some measure of an earthquake, the two most common states for earthquakes, and therefore in the most need for insurance, are Alaska and California, with Alaska leading all 50 states. Many companies conduct most of their heavy earthquake coverage business in these states and can provide competitive premium rates for those residents.
Some areas of those earthquake-prone states of California and Alaska are frequently visited by insignificant tremors, but since they are not near a major fault, those residents do not feel in great danger of a strong quake occurring. When that is the case, there is less anxiety over acquiring a policy that will compensate them for losses incurred. Even so, an earthquake insurance quote will certainly be competitive in the states of Californian or Alaska because the risk of strong quakes is greater than other states. Competitive earthquake insurance quotes are available, but insurance companies that offer premium rates for Alaskan residents, however, are not dealing with the large population and mammoth business enterprises that California coverage must protect. Therefore, rates may vary from one area to the next, depending on several factors including population. However, finding reasonable premium rates for either state is possible, if you do your homework. For instance, in California the government has intervened with regulations and policies that help residents and businesses be able to obtain lower earthquake insurance quotes when searching for affordable coverage.
Comparison of several quotes is the most important aspect to finding a cost effective price. Shopping around may take some time, but will be worth the extra savings in the long run. There are safety measures and advisory sources that are in place, providing a healthy alliance with consumers and companies, to insure a good premium rate for insurance policies. A buyer should check out several online insurers that can offer a competitive earthquake insurance quote. "Arise, shine; for thy light is come, and the glory of the Lord is risen upon thee. For, behold, the darkness shall cover the earth, and gross darkness the people: but the Lord shall arise upon thee, and his glory shall be seen upon thee." (Isaiah 60:1-2)