When your home is flooded, it can lead to financial ruin if you don't have the proper insurance. And note this: A basic homeowners policy won't cover your flood damage! You need flood Insurance — a special policy backed by the federal government, with cooperation from local communities and private Insurance companies.Most Americans neglect to purchase protection. Only about one-quarter of the homes in areas most vulnerable are insured against flood loss, according to the Federal Insurance Administration (FIA). In those areas, flooding is 26 times more likely to occur than a fire during the course of a typical 30-year mortgage. That means that you're six times more likely to be damaged by a flood than a fire.
Flood Insurance in general does not take effect until 30 days after you purchase of the policy So, if the weather forecast announces a flood alert for your area and you run to purchase coverage, it's already too late. You will not be insured if you buy a policy a few days before a flood.
Outside of fire, flooding is the most widespread natural disaster. Floods are caused by storms, melting snow, hurricanes, and water backup due to inadequate or overloaded drainage systems, dam or levee failure, etc. According to the NFIP, two adjacent properties have to be under water to call the situation a flood. In a rural area, at least 2 acres must be submerged.
Preferred risk policy: Low-rate flood insurance policy (available for just over $100 a year) for people living in flood zones of minimal and moderate risk (zones B, C, and X).
Special Flood Hazard Area: The most hazardous flood zones are V (usually first-row, beach-front properties) and Zone A (usually, but not always, properties near water). A being the most common in Alaska near lakes, streams, sloughs, and even dry slough beds.
To find out which zone applies to you. You can go to your town hall or city hall, where employees responsible for issuing building permits in your area have access to flood zone maps. Or obtain any Elevation Certificates that have been performed or hire a certified Engineer.
A zones - are subject to rising waters and are usually near a lake, river, stream or other body of water. Flood insurance is mandatory in all A zones, where premiums can be about $595 to $3,000 annually because of the high potential of flooding.
X zones -These are minimal-risk areas where flood insurance is not mandatory. Homeowners in X zones (which are labeled B and C zones on older maps) pay as little as $306 annually. In certain cases, property owners may qualify for the $100-a-year preferred risk policy.
Strict exclusions of coverage apply in any basement. A basement is defined as any area that is below grade on all four sides. In some cases, sunken living rooms can be defined as a basement. Building coverage in basements is limited to systems that service the building, such as electrical boxes, heat pumps and air conditioners. Contents in basements are not covered with a few exceptions such as washer, dryer, freezer and the food in it.
Please call or email for further information or pricing.
Diagrams of lowest flood guild
http://ublib.buffalo.edu/libraries/e-resources/ebooks/records/eeh6024.html
Listings of Communities Participating in NFIP:
http://www.fema.gov/cis/AK.pdf
Examples of an Elevation Certificate
http://www.fema.gov/business/nfip/elvinst.shtm
or
http://www.fema.gov/doc/nfip/elevcert_template.dot