Flooding is increasingly frequent and devastating in the US and other parts of the world. According to an article by Scientific American, its costs are expected to rise with climate change. They estimate that the losses due to floods in the US will be four times higher when population growth is factored in than when accounting only for climate changes.
Flood damages cost more than $8 million a year in the US. Some places are more prone to flooding. For example, the flood risk is high in Florida due to the frequent storms and proximity to water bodies in this state. Many businesses and homes in Florida would come in need of professional flood damage restoration services. Suncoast Contractors Emergency Service Inc. provides water damage mitigation and flood restoration services in Boynton Beach and other parts of Florida. This is a family-owned full-service contracting company that prioritizes customer safety and satisfaction in all that they do. In this article, Suncoast Contractors Emergency Service Inc. explains why residential and commercial owners should consider purchasing flood insurance.
Flood damage includes all the types of harm caused by flooding. This includes the harm caused to properties. Flood restoration work is best handled by a professional water damage company that handles flood damage restoration. Usually, floods occur when heavy rain occurs over a short period of time. When there is heavy rain, and stormwater drainage is ineffective flooding can happen. Flooding can also happen when there is prolonged and heavy rainfall or when hurricanes and tropical storms result in storm-surge floods.
Flood insurance covers the costs of physical damage to property and possessions, up to a certain limit, that can vary depending on each flood policy. Many homeowners and business owners sometimes wonder if flood insurance is to be purchased. It is important to remember that homeowners' and renters' standard insurance policies do not cover the cost of flood damages. A flood insurance policy can be purchased through the NFIP (National Flood Insurance Policy). Alternatively, a private insurance company can be used to purchase flood insurance. Property owners in states like Florida may be required by their mortgage lenders to purchase flood insurance if their homes or businesses are located in moderate or high-risk flood zones. But it is advisable that even property owners outside these Special Flood Hazard Areas purchase a flood insurance policy. According to a news release by FEMA, more than a quarter of the nationwide flood claims are made by people who are located outside high-risk areas. Any area that receives rainfall can flood.
Why It Is Necessary To Purchase A flood Insurance Policy
It is estimated that even 3 inches of floodwater may require repairs or replacement of material or objects like drywall, ceilings, furniture, carpets, etc. The more severe the flooding, the more the cost incurred for flood restoration services. Also, flood water is considered to be contaminated water. This water can cause hazards. This category of water damage is best handled by flood damage restoration specialists. This is because they have the training, equipment, and expertise in handling flood damage swiftly, thoroughly, and safely. Delays in flood restoration can lead to worsening problems like structural damage and increase the risk of complications like mold growth. If a homeowner or business owner has no flood insurance, the out-of-pocket cost is high. Delay in getting flood restoration services can cause more damage and more costs for repair. It should be remembered that disaster assistance is offered to businesses and homes only if a national disaster is declared by the President. Flood damage can happen even when a national disaster is not declared. Also, federal assistance functions more like a low-interest loan than insurance.
When a community is a participant in the NFIP, homes, and businesses can get both building and contents coverage in their flood insurance policies. Renters in such communities are also eligible to purchase a flood insurance policy from NFIP. Owners of a flood insurance policy can claim flood damage costs even if a federal disaster has not been declared. States like Florida also enable advance payments to policyholders, which helps them to get flood restoration services faster. People in areas at low risk for flooding can purchase a Preferred Risk Policy for a lower amount. This flood insurance policy provides coverage for buildings and contents affected by floods in low-risk areas. People who live in areas that are not qualified to participate in NFIP can still be eligible to purchase flood insurance through a private carrier.
In short, It is always better to purchase a flood insurance policy. Floods are disasters that can hit people without any warning. The policy must be in effect when flood damage occurs for the policyholder to receive coverage. It usually takes 30 days for a newly purchased policy from NFIP to become effective. To get a referral for an agent to purchase a flood insurance policy, FloodSmart.gov can be visited.
Flood damage can be a devastating experience for both families and businesses. Flood restoration service providers like Suncoast Contractors Emergency Service Inc. in Florida can help with the insurance claim process. This company has years of experience in providing flood restoration services in Boynton Beach and other parts of Florida. The company can handle the insurance claims process for flood damage in a strategic and skillful manner. The expert technicians at Suncoast Contractors Emergency Service Inc. also ensure speedy repairs and adhere to guidelines that insurance companies have. This makes the process as stress-free as possible. For flood restoration services in Boynton Beach, residential and commercial property owners can call on (561) 316-3989.
