Nearly 25 percent of flood insurance claims come from areas mapped outside of high-risk “flood zone” areas.
“Statewide, 17 people died…Rivers overflowed, seven inches of rain fell in a single day, and the damage cost California more than $400 million. It was California’s wettest winter on record. It was the El Nino 1997-98.”
“…In California since 1978, 37.4% of paid claims, are due to the four El Niño years of 1982/83 and 1997/98….4.8 times higher than non-El Nino years.”
South Carolina recently experienced levee failures. Be aware–levees and dams can and do FAIL– America’s dams earned a “D” in The American Society of Civil Engineers’ most recent Report Card for America’s Infrastructure(2013). About 4,000 dams in the country are in need of repairs – and about half of those deficient dams could cost lives if they were to fail.
“There are more than 87,000 dams in the U.S. and the average age is 52 years old. Texas has the most dams–more than 7,000.”
“Think NC flood insurance is expensive? The facts are that the average premium for federally backed flood insurance through the NFIP is only $550 a year. The cost of a Preferred Risk Policy starts as low as $129 a year. Compare that with the repayment on a $50,000 Federal disaster home loan at 4 percent interest, which will cost you $303 every month for 20 years. Which is truly the better deal?”
From personal and commercial insurance to employee benefits packages and marine insurance we’ve got you covered. Select a product and let us help you find the best coverage at a great value.