Flood Insurance for Your Home & Business
~ Serving Spring, Houston & The Woodlands Tx. ~
TWFG Insurance Spring / The Woodlands is independent insurance agency serving the needs of Spring, Klein and The Woodlands with Homeowners, Auto Insurance, Flood Insurance, Life Insurance and Business Insurance. Call our office today and start saving (281) 466-1310, or fill out our online quote form at your convenience.
FEMA has expressed growing concern about the lack of understanding by home and business owners about the often-cost-effective protection flood insurance provides.
Did you know, the average flood claim is $15,000 while the average flood insurance policy costs a little over $350 a year.
Business and homeowners mistakenly believe they have protected their investments with homeowners or business insurance policies, but these policies fail to protect against the most common natural disaster, unless they also purchased a flood insurance policy.
Homeowner, mobile home, condo, and business insurance policies normally do not cover flooding damage. In addition, there is a 30-day waiting period for new flood policies, so check the long-range weather forecasts and patterns for your area and secure flood insurance for your home or business well before hurricane season.
Homeowner, mobile home, condo, and business insurance policies normally do not cover flooding damage. In addition, there is a 30-day waiting period for new flood policies, so check the long-range weather forecasts and patterns for your area and secure flood insurance for your home or business well before hurricane season.
Below are a few facts about flooding in the U.S.
- Floods are our nation’s most common and costly natural disaster that equates to millions of dollars in damage every year. Damage estimates are still coming in for Hurricane Harvey, however, nearest estimates are at $150 billion, and as high as $190 billion, the last of which would make it the costliest natural disaster in US history.
- Homeowners and renter’s insurance policies rarely include flood damage.
- More than 20 percent of flood damage claims are from dwellings outside of the high-risk flood zones.
- Flood insurance policies can pay regardless of whether there is a Presidential Disaster Declaration.
- Most federal disaster assistance is in the form of low-interest disaster loans from United States Small Business Administration (SBA) and require that you pay the loan back. FEMA does offer disaster grants that don't need to be paid back but is often much less than what you need to recover. A claim against your flood insurance policy can and often does, provide more money for recovery than those you might qualify for from FEMA or the SBA, and you don't have to pay the money back.
- If you live in a high-risk flood zone you may be required to purchase flood insurance. Congress has mandated that all federally regulated and insured lenders require flood insurance on properties that are financed in areas with high risk of flooding. Even if your property is not located in a high-risk flood area, your lender may still require it.
Check our state's flood history with FEMA's interactive data visualization tool. Move your cursor over each parish to see how many flooding events have happened in your area. This tool allows you to compare how much FEMA and the U.S. Small Business Administration have provided in terms of federal disaster aid after Presidential Disaster Declarations to the amount the National Flood Insurance program has paid to its policyholders. It's easy to see that having flood insurance provides more assistance for recovery.