California Flood Insurance
Most people purchase a homeowner’s insurance policy believing they are protected against all possible natural disasters that could damage or destroy their home. Yet, most homeowners’ insurance policies do not cover damage caused by floods, and for many of us in California, flood insurance is an absolute necessity.
California flood insurance protects against floods caused by any of the following:
- Melting snow and ice
- Water back-up due to insufficient drainage systems
California Flood Insurance from HWP Insurance can provide the extra protection you need to protect your most valuable asset, your home.
Contact us today so we can help you determine if your current policy protects your home and belongings against the risks of a flood.
Frequently Asked Questions
- How much does flood insurance cost? Depending on your location, your policy could cost as little as $1 per day! That’s less expensive than interest on Federal disaster loans.
- What exactly does it cover? Flood insurance is available for home, condo and business owners, and renters. It covers structural elements, walls, floors, equipment and fixtures. Optional coverage can be purchased to protect the contents of your home.
- What is my real risk of loss from a flood? Just a few inches of water from a flood can cause tens of thousands of dollars in damage. Over the past 10 years, the average flood claim has amounted to over $33,000. Your HWP professional can help you understand your flood risk level based upon where you live.
- Does the government offer flood protection? Federal assistance is only available in a Presidentially-declared national disaster. Less than 50% of all floods qualify. The average Federal grant for flood damage is around $2,500. How much of your property would that replace? If you receive a Federal disaster loan, it must be repaid, with interest!
Other Important Flood Facts
- 90% of all Presidentially-declared disasters are flood related.
- Under the National Flood Insurance Act, lenders must require borrowers whose property is located within a high-risk (Special Flood Hazard Area or SFHA) flood zone to purchase flood insurance as a condition of receiving a Federally-backed mortgage loan.
- Federal assistance is only available in a Presidentially-declared national disaster. Less than 50% of all floods qualify.
- If you are uninsured and receive Federal disaster assistance after a flood, you must purchase flood insurance to remain eligible for future disaster relief.
- The average Federal grant for flood damage is around $2,500. How much of your property would that replace? If you receive a Federal disaster loan, it must be repaid, with interest!
- Most new flood policies have a 30-day waiting period, so don’t wait until the last minute. Plan ahead!