If you think water damage isn’t a real threat for millions of Americans, consider this: water damage caused $9.1 billion in annual homeowner property losses over a three-year period, according to a 2011 ACE Insurance Underwriters study. Despite that, many people don’t worry about protecting their home against water damage because they believe their home is safe so long as it isn’t located on a flood plain.
Have you ever heard the phrase “The Whole Town Is under Water”? I think we should look at our chances of 2017 being the real deal. In June of 2001, Tropical Storm Allison dumped her water on this city and turned high ground into people seeking refuge on tops of roofs, hoods of cars and being rescued by boats and Coast Guard Helios.
The average flood loss cost is $48,000 for homeowners and $85,000 on commercial property according to the National Flood Insurance Program. With hurricane Sandy looming on the east coast we are all reminded of how our Texas coasts were affected by hurricane Ike.
Now is the time to prepare for floods and consider your flood insurance needs.