Heavy rains in the spring and summer can lead to devastating floods throughout the state of Georgia. You may not be able to prevent a flood from damaging your home, but you can prevent the overwhelming expenses this type of damage can bring. Typical homeowners insurance policies do not cover floods, but you can still get coverage by purchasing a separate flood insurance policy.
You may have questions about flood insurance or you might wonder how to purchase a policy. An independent agent in the Trusted Choice® network can help. These agents can be found in more than 27,000 member agency locations nationwide, so it is easy to find one in your neighborhood who understands the flood risks you face. Contact a member agent today for more information and to compare Georgia flood insurance quotes for a variety of coverage levels.
- Floods are the second most damaging type of natural disaster faced by residents of Georgia
- In 2009, a major flood affected 17 Georgia counties
- Preferred-risk flood insurance policies start at just $129 a year
What is Georgia Flood Insurance?
Flood insurance is provided through the National Flood Insurance Program (NFIP). This program was created by the federal government in the 1960s to protect homeowners from the overwhelming financial hardships flood damage can cause. Prior to this program’s creation, most people had no way to secure coverage and often suffered major financial setbacks from floods.
Many people believe that FEMA will provide funding after a major loss from a flood. Unfortunately, this funding comes in the form of low-interest loans that must be repaid. It is not the same as insurance.
Flood insurance is backed by the federal government, but you can easily purchase it from an insurance company. The monthly price of a policy is usually lower than payments on a FEMA-provided low-interest loan, and securing this coverage is a good way for homeowners, renters and business owners to safeguard their finances.
Who Needs Georgia Flood Insurance?
If you live in a designated high-risk flood zone, your mortgage company likely requires you to carry a flood insurance policy. For those outside the zone, this coverage is optional. However, just because you are outside of a flood zone does not mean you are not at risk.
In 2009, the state of Georgia suffered through one of the worst U.S. floods in the past 100 years. Ten people died and the Georgia insurance commissioner estimated that damages cost state residents $250 million dollars. Much of this damage occurred in “low-risk” areas.
Flood Insurance Facts in Georgia as Reported by FEMA
- There are currently 96,298 flood insurance policies in effect in this state
- Between October 30, 2011 and September 30, 2012, residents in this state filed 96 flood insurance claims
- These claims totaled approximately $457,000
- That equates to an average of about $4,760 per claim
Flood damage can be extensive. Even just a few inches of water in the basement can destroy furnaces and hot-water tanks, damage the structure of the building and lead to the formation of dangerous mold particulates in the air. If waters rise to above-ground floors, the damage to your property can be extremely expensive. Sometimes, a flood insurance policy can be the only thing that prevents bankruptcy after a major flood.
It’s Easy to Obtain a Georgia Flood Insurance Policy
Because all flood insurance policies are issued through the NFIP, prices are standard. A flood insurance policy can be purchased to cover the structure of your building, the contents within, or both. Your local independent agent in the Trusted Choice network can help you assess your needs for each category.
Agents in the Trusted Choice network can go beyond simply helping you secure an appropriate flood insurance policy. They can also answer all your insurance-related questions and may even be able to find ways to save you money on your other policies. Contact a local member agent today to start comparing Georgia flood insurance quotes for different levels of coverage.