Personal Flood Insurance: Prepare for April Showers and May Flowers

If your home is in a coastal plain, on the bank of a river or lake, then it’s a no-brainer that flood insurance is a requirement for protection. FEMA agrees that no matter where you live, some risk for flooding exists. Floods occur everywhere and are the most common, widespread weather-related natural disaster. 

What is a flood? According to FEMA, a flood is the overflow of water or mud onto land that is normally dry. A flood is not a busted pipe or a tub overflow in a home. Regular homeowners’ insurance covers those damages, but a flood, according to FEMA, needs a special flood policy to protect your home and contents. Flood damage can occur with just a few inches of water or when water engulfs a home to the rooftop. Floods can occur in minutes and last for days, weeks, or months. 

I’m sure you’ve heard the saying, “Texas is the land of perpetual drought, soaked by occasional devastating floods.” This phrase may lead you to falsely believe there is no need for an additional flood policy on your home. However, you may be surprised to learn that a recent Texas State Climatologist at Texas A&M University revealed that flood risks are set to intensify between now and 2036. According to the report, Texas’s average temperature is set to climb, which will contribute to greater rainfall, meaning higher rain amounts in shorter periods. The odds of these extreme rainfall events will increase by 50%. 

Another phrase that is also inaccurate is “100-year flood.” This coined phrase is used to simplify the definition of a flood that statistically has a 1% chance to occur in any given year. However, the probability is not consistent. For example, there could be two “100-year floods” within one given year. Therefore, that phrase falsely leads people to not purchase flood insurance. According to the NOAA, some of these “100-year floods” between 2018 and 2021 cost an estimated $4 billion per event. You do not want to be caught without insurance in case of another event in 2022. 

Look around the area, and I’m sure you’ll see infrastructure being built along your commute between work and home. That infrastructure places concrete on the ground, taking away surface area for the rain to soak into the soil. Walter Peacock, a professor at Texas A&M, says that by adding this barrier for the rain to soak into the soil, we’ve lost permeability. Now that the soil is impermeable, you get more runoff. That runoff is what can cause flood damage to the foundation and basement of your home. This runoff could be from these heavy rainfall events, melting snow and ice, or a dam or levee break. This is not just from tidal waves, rivers, or lakes. Again, floods can happen anywhere at any time.

How to Prepare for a Flood

Now that you understand the risks and definitions of a flood, what can you do to be prepared? Here are some options provided to you, through your trusted insurance provider.

One option is going with the National Flood Insurance Policy (NFIP). This policy offers a maximum coverage of $250,000 for your home and $100,000 for its contents. For those hesitant to purchase flood insurance, based on the location of your home, this might be the best policy to implement. 

Another option would be to talk to your Tower Street Insurance agent and add an excess flood policy to your homeowners’ insurance. This policy would cover your home dwelling at 100% of the cost of the home with the content coverage is customizable to best fit your personal needs. 

Severe Weather 101: Flood Basics (noaa.gov)

Texas Flood Risks, Destruction Projected to Increase – Texas 2036

The Problems With “100-Year Floods” – Texas Monthly

Calculating the Cost of Weather and Climate Disasters | News | National Centers for Environmental Information (NCEI) (noaa.gov)