12 Aug Beaumont Texas Flood Insurance
Part of the “Golden Triangle” in Texas, the city of Beaumont is home to industry, education, and culture. It is also yet another Texas city that, on occasion, is severely affected by significant flooding. Due to issues of flooding, property owners in Beaumont should carefully consider and then purchase a flood insurance policy.
The main flood risks for Beaumont come courtesy of tropical storms and hurricanes. Beaumont has a long history of being significantly affected when tropical systems come ashore from the Gulf of Mexico. Additionally, inland storms with heavy rainfall have been known to inundate the city as well. One storm dropped almost a foot of rain in a short time frame, causing hundreds of homes within the city limits to flood.
While the entire city has experienced flooding at one point, there are certain areas of Beaumont that are more likely to flood than another. These areas are known as Special Flood Hazard Areas (SFHA) by the Federal Emergency Management Agency (FEMA), and are classified as such because they have a one-in-four chance of flooding at least once in a thirty year period. FEMA has undertaken a renewed effort to produce updated flood maps for many flood-prone areas, so some residents of Beaumont may now find themselves in SFHAs for the first time.
| How Much Damage Can a Flood Do?
1” of water: $10,000 of damage to a 1,000 sq ft home or business 3” of water: $12,000 of damage to a 1,000 sq ft home or business 6” of water:$20,000 of damage to a 1,000 sq ft home or business
These numbers are doubled for a 2,000 sq ft home. As you can see, even a little water causes big financial problems. |
Beaumont property owners who have their homes or businesses in SFHAs are required by law to carry some form of flood insurance if the property in question was financed through a government program. Some private lenders have begun to follow suit and require their clients to obtain coverage as well. Other property owners are not required to purchase flood coverage, but it is strongly recommended, as typical homeowners or business insurance policies do not cover flood-related damages. Even as little as an inch of floodwaters can result in tens of thousands of dollars in damages, and without adequate coverage, the property owner must either pay for the damages out-of-pocket, or obtain loans to finance the repairs.
There are two flood insurance programs that will provide policies to Beaumont residents. The first, is the National Flood Insurance Program (NFIP). The NFIP has long been the only provider of flood insurance policies and is financed by the federal government. A second, and more recent, provider on the market is the National Catastrophe Flood Insurance Program (NCIP). Each program has its own pros and cons, but some insurance agents are beginning to tout the NCIP as having more comprehensive coverage, as well as well as higher coverage limits overall.
Floods can and will occur in Beaumont. There is no amount of city planning or civil engineering that will prevent the rain from inundating this wonderful city from time to time and causing some damage. But residents and business owners in the city who choose to protect themselves financially by purchasing a flood insurance policy will have peace of mind when those floods do come. Investing in a policy premium now can save many thousands of dollars in the future. Contact us now for more information about the Beaumont Texas flood insurance.
All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.
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