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The Facts About Flood Insurance

The agents of Premier Brokers Corp track hurricanes to safeguard their clients by encouraging them to purchase life-sustaining flood insurance. A category 5 Hurricane Michael on October 10, 2018, slammed into the Florida coast at or near 160 mph winds, causing wide-scale destruction and massive flooding of historic proportions.

Florida has a long history of tropical storms and cataclysmic Hurricanes which have directly led to Florida making it mandatory for Florida homeowners that live in the highest-risk flood zones to purchase flood insurance. Mortgage lenders often require flood insurance in any flood zone. Lenders will require flood insurance for its insureds that live in areas where only twenty-five percent of foods a moderate-to-low risk flood zone where there is only 25 percent of floods occurring.

There is a federal Requirement to purchase flood insurance if the homeowner has a federally backed mortgage, and lives in a community that participates in the Federal National Insurance Program. The state of Florida does not require the purchase of flood insurance. The state's Emergency Response Team coordinates with FEMA (Federal Emergency Management Act) in preparing Florida residents for floods. Further, Congress authorized the Corps of Engineers to remove any navigation obstructions.

A quarter of a century later, states were authorized to build Levees and drainage channels specifically in the Mississippi River without using federal funds. More aggressive action was forced to be taken by the federal government because of the 1913 flood in the Ohio River Valley which killed 415 people causing $200 million in property damage, which acts caused the passage of the 1917 Flood Control Act. The public wanted more aggressive action. Congress authorized the 1917 Flood Control Act. Now that the legal basis was developed to control flooding, FEMA legislation was passed in 1979.

The agents of Premier Brokers Corp can both instruct its clients on how to make a flood claim with FEMA and to offer private flood insurance if FEMA's limits are surpassed. Please call today!

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