Flood Insurance

You may not think you live in a flood zone, but flooding can occur in any area for a number of reasons. The Federal Emergency Management Agency (FEMA) has declared the entire state of Louisiana to be a flood zone, which means that regardless of where you live in the state, you have a chance of sustaining flood damage. It's a misconception that living near a body of water is the only cause of flooding. Rainfall, snowmelt, poor drainage systems and broken water mains can cause flooding. Being unprepared leaves homeowners open to all sorts of problems.

In 1968 Congress enacted the National Flood Insurance Program (NFIP) because of growing concerns about flood preparation, flood damage and the rising cost of flood insurance. This program helps property owners meet flood insurance costs.

Because of the Flood Disaster Protection Act flood insurance is now mandatory in designated flood hazard zones. The act provides aid to insured property owners who sustain flood damage. Without coverage, if a flood were to happen, and the President declared a disaster, property owners would be exempt from receiving aid. The act also made it impossible to obtain loans from FDIC-insured banks and lenders without flood insurance.

Insurance & Financial Services Inc. is here to help you explore your flood insurance needs. For more information or for a quote, stop by our office today.