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Do you Need Flood Insurance?

from Gateway Insurance

by Amanda Finerty on Sep 06, 2017

We have all witnessed the increase in severity and frequency of flooding, and the destruction to lives and property that Mother Nature can unleash.  In fact, 2016 was considered "the year of the Flood in the U.S...with 19 separate floods, the most in one single year since records began in 1980."  With warmer weather and more flooding on the horizon there will be an increase to property damage and loss, especially along the coasts. 

A warming climate means an increase in accumulated moisture, and thus, the likelihood of more frequent and intense storms. In this century, "the increase in rain and snow will be on average about 10-20%,"Add in continued population growth and land development along the coastline as well as inland communities, and the propensity for catastrophic economic loss gets even greater still. Studies from the National Oceanic and Atmospheric Administration show "the US has experienced a higher frequency of billion-dollar inland (i.e., non-tropical) flood events in the recent years."This should not be surprising, "as heavy rainfall events and the ensuing flood risks are increasing due to the fact that warming loads the atmosphere with more water vapor (NCA, 2014)."

Yes, change is happening....and now more than ever, consumers need to understand the increased potential for flood loss. You can Trust Gateway Insurance Services along with Wright Flood Insurance to help you in making the best Flood Insurance coverage choices. Our Agents are very knowledgeable and want you to be educated about Flood Insurance. In fact here are some Important Flood Facts and a link to The National Flood Insurance Program. Now more than ever it is time to contact your Agent about Flood Insurance. 

There is a standard 30 day waiting period when purchasing a Flood policy unless you are closing a new loan, therefore we suggest talking with us about Flood Insurance now before the rainy season is upon us.

We look forward to hearing from you. Thanks for stopping by!

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