Dallas Flood Insurance
Lean how to find the right flood insurance for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
The history of flooding in Dallas goes back to the written records of the first area settlements. The problem is especially severe along the banks of the Trinity River. The city has made many recent improvements in an effort to lessen the problem of rising waters and flood-related damages, but the risk still exists. Flood damage can be costly, so it is worthwhile to consider purchasing a Dallas, TX flood insurance policy.
If you have questions about flood insurance or are seeking to purchase a policy, you can contact an independent insurance agent in the Trusted Choice® network for help. These agents, many of whom have offices right here in Dallas, can help you understand your existing coverage, find additional or alternative policies, and provide you with a variety of Dallas flood insurance quotes. Contact a local member agent to learn more today.
Dallas, TX Flood Facts
- Total flood-related property losses in Dallas, 1976 to 2001: $6,727,943.77
- Texas of flood fatalities from 1960 to 1995: 612
- Texas was the #1 U.S. state for flood fatalities between 1960 and 1995
The city of Dallas and the Trinity River Watershed Management Department are constantly working on making improvements to the city’s levees and to flood control in particularly high-risk areas. This problem, however, is one that affects residents in all areas of the city.
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What Is Flood Insurance?
Homeowners insurance and business insurance policies rarely provide coverage for flood damage, and before the creation of a flood insurance policy, these disasters had the potential to destroy and bankrupt communities. Fortunately, we now have the National Flood Insurance Program, or NFIP.
The NFIP is backed by the federal government. The program began in the 1960s and has since provided an alternative to the low-interest loans FEMA offers as aid after a catastrophe. The monthly price of a policy is usually drastically lower than that of payments on a loan, and securing this coverage is a good way for homeowners, renters and business owners to safeguard their finances.
Who Needs Dallas Flood Insurance?
If you have a mortgage on a property in a designated flood zone, you will be required by your lender to carry a flood insurance policy. As flood zone maps are being redrawn for better accuracy, more and more households in the Dallas area are finding they are in designated flood zones. Areas in the flood zone are estimated to have the highest risk of flooding, but flooding can occur almost anywhere in the city for a variety of reasons.
According to FEMA, a high risk flood zone is an area where there is a 25 percent or greater chance of heavy flooding during a 30 year period. Some Dallas residents who have recently been designated as being in a high risk zone will have already received a yellow post card in the mail informing them that they are required to purchase a flood policy because of lender requirements.
Those outside of flood zones are not required to have this insurance, but it is still advisable to do so. Floods can happen anywhere and nearly a third of all flood claim payouts go to homeowners who live outside low-risk areas.
What Does Flood Insurance Cover?
Flood insurance provides two types of coverage – one for the structure of the home itself and the other for its contents. You can opt to purchase only one type of coverage, though most homeowners purchase both.
Building coverage provides compensation for damages to the building and its foundation, electrical and plumbing systems, built-in appliances, furnaces and air conditioning units, and for permanently installed carpeting over unfinished floors. Contents coverage typically provides compensation for loss or damage to clothing, furniture, draperies, electronics, window air-conditioners, portable appliances, flooring and carpets over finished floors.
Be aware the flood insurance will not provide compensation for damages to a finished basement. It will only cover damages to appliances that are normally kept in a basement such as hot-water heaters and furnaces.
Is Dallas Flood Insurance Expensive?
The cost of NFIP-provided flood insurance is standard and rates are based on whether or not you are in a high-risk flood zone and how much coverage you purchase. Preferred-risk policies start at just $129 a year and the average policy runs about $600 a year.
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It Is Easy to Purchase a Dallas Flood Insurance Policy
Obtaining a flood insurance policy for your home is easy with the help of an agent in the Trusted Choice network. Your local member agent can help you by answering your questions about flood insurance and by ensuring that you are purchasing enough coverage.
These independent agents can do more than just help you purchase a flood insurance policy. A local member agent can assist you with all of your insurance-related questions and will advocate for you with your insurance company. Contact a member agent near you today to start reviewing Dallas flood insurance quotes.