Alabama Flood Insurance: Full Information for Householders in 2021
How Can I Get Flood Insurance in Alabama?
Your flood insurance options include the National Flood Insurance Program (NFIP) and private insurance agents.
Floods can happen anywhere – and Alabama is no exception. In fact, three of the 10 most expensive hurricanes in US history were hit Alabama, including Hurricane Katrina, Hurricane Rita, and Hurricane Ivan. All three led to floods. Hurricane Ivan caused $ 1.6 billion in total damage from the Federal government& # 39; S National flood insurance program (NFIP) in the affected federal states. And Hurricane Katrina left the affected states a staggering $ 16 billion Claims from flood insurance paid by the NFIP.
Alabama receives about 56 inches of rainfall each year, which poses a high risk of river and flash flooding. Coastal regions like Mobile and Baldwin are prone to storm surges from tropical storms and hurricanes. But still less than a third of that Alabama Residents have taken out flood insurance.
Why take out flood insurance? Because you Household insurance won't get paid if you have Flood damage. default Homeowner Insurance expressly excludes damage caused by floods. To cover that, you have to Take out flood insurance. Imagine just a few inches of flood in your home and how much it would cost to tear out the walls and flooring and replace your belongings. You can avoid this by taking out flood insurance. from Huntsville to mobile and everywhere in between, flood insurance is a smart bet to protect you from it Flood damage.
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Do I need flood insurance in Alabama?
Yes indeed! If you're in a traditional Floodplain as defined by the United States National Coordination Unit for Disaster Relief (FEMA) & # 39; S Flood maps, your mortgage Lender may require that you have Flood insurance coverage. This is typical for people withrisk areas. People who are not in traditional Floodplains You may need flood insurance, even if it isn't required. Here's why.
flow Floodplains and coastal areas are most susceptible to flooding, but flooding is possible in areas that simply have unusually long periods of time heavy rains. Low and moderate risk Floodplains could flood during slow moving rain, or an interrupted sewer could flood your home. Neither of these circumstances is affected by yours. covered Household insurance. And severe storms are considered the most common natural disaster in Alabama, it is important that you are prepared.
Alabama Flood zones
Between the tropical storms on the Gulf Coast and the numerous rivers and streams in Alabama, the risk of flooding is high. The coast is hit by rainfall almost annually, and most of the homes along the coastal and river areas are in Floodplainswhich means they are at high risk of flooding.
What is covered with Flood Insurance in Alabama?
Flood insurance usually consists of two parts: building / property insurance and Content coverage.
the Building coverage Part of the policy covers physical damage to the building, including:
- The insured building and its foundation
- Electrical and plumbing systems
- Central air conditioners, stoves and water heaters
- Cooking stoves
- Built-in appliances such as dishwashers
- Fixed carpet over unfinished flooring
- Fixed siding, blackboards, bookcases and cabinets
- Detached garages
- Removal of dirt
The content part of the policy applies to your personal effects. This could include:
- Electronic equipment
- Portable and window air conditioners
- Microwaves and portable dishwashers
- Carpets that are not included Building coverage
- Washing machines and dryers
- Food freezers and the foods they contain
What is not covered with Flood Insurance in Alabama?
Alabama Flood cover only includes damage directly caused by floods, defined as excess water on normally dry land. That is, if your sewer is dammed back due to a flood, the damage will be covered, but if the sewer congestion is not caused by flood, it will not be covered.
These elements are usually not included in either Building coverage or Content coverage:
- Damage from moisture, mold, or mildew that you could have avoided
- Property outside the insured building, such as your hot tub, swimming pool, or landscaping
- Temporary housing or additional living expenses that you incur while repairing your home
- Financial losses due to business interruption
- Currency, stock certificates and other valuable papers
- Personal property kept in the basement
What are the costs for flood insurance? Alabama?
The cost of flood insurance for Property owner varies by location, but for example a $ 100,000 policy for a home in a High risk flood zone in Birmingham costs about $ 800 annually.
However, the recent flood insurance reform may change the average Flood insurance costs near you. Your rewards may be higher or lower than average based on information such as:
- The specific flood risk in your region
- The type of coverage you are buying
- The deductible you have chosen
- The height of the building and / or Content coverage you choose
- The construction and age of your home
When you gather Flood insurance offersmake sure you know how much coverage you need. This could include a home inventory where you walk from room to room in your house to find out the value of your belongings.
In addition, it is a good idea to find out if you are in a low or low moderate risk Flood zone. If you do so, you may be entitled to a Preferred risk policy from NFIP-a lower one Flood insurance tariff that is available to people at lower risk.
How to get one Flood Insurance Policy in Alabama
Were Policyholder in Alabama You have two options for taking out flood insurance. You can go with a private insurer or take out public insurance through NFIPthat is regularly sold by Insurance agents but is supported by the Federal government. If you have a mortgage Lender may have certain restrictions on the type of coverage you must have so ask about your mortgage Lender for details.
National flood insurance program (NFIP)
the National flood insurance program is managed by FEMA. It has existed for more than five decades. the NFIP sells two types of Homeowner Guidelines – one covers the building and the other covers the contents. NFIP Policies have a maximum building coverage of $ 250,000 and $ 100,000 for personal items.
It is important to know NFIP Cover has one waiting period of 30 days. You can't buy it right before a storm and expect your home to be covered. Learn more about NFIP Guidelines at flutsmart.gov.
Private flood insurance
Private insurers can be a good option if they are available in your area. You usually have additional coverage options that are not part of. are NFIP Insurance. For example, private insurers often have higher coverage limits – up to $ 1 million in some cases. Plus, the cost is usually lower than that NFIP This is in part because private insurers may choose to put houses inrisk areas. In these places is the NFIP possibly the only option available.
With a private insurer, you may also be able to get coverage for things like temporary living expenses and basement cover. the waiting period is usually shorter than that NFIP and should occur about 10-14 days after purchase.
frequently asked Questions
Am I entitled to flood insurance?
Yes, almost everyone is entitled to some kind of flood insurance. The type of flood insurance you can get depends on whether your community is in the National Flood Insurance Program. If your area does not participate in the NFIP, you can still be eligible through a private provider.
Will FEMA disaster relief not help me during floods?
Only when the president declares a disaster near you, which is not always the case. Also, it's important to know that federal aid isn't insurance – it's a low-interest loan that you will have to pay back over time. The flood insurance pays out even if there is no disaster report and you do not have to repay it.
My home and content value is above what the NFIP covers. What should I do?
Find out about your options with private insurance companies. Many private insurers have upgraded flood protection that provides additional coverage beyond what the NFIP can offer you.
Obtain Flood Insurance in Alabama now
There has never been a better time to get flood insurance Alabama. Get moving now so your flood insurance can take effect before the next storm.
Supplement your flood insurance with a cheaper, more comprehensive one Household insurance. Assure work with top insurers to quickly get you the quotes you need.
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Updated August 24, 2021
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