California Flood Insurance

Homeowners in California enjoy many unique benefits that other homeowners throughout the country cannot claim. There are very few, if any, states where residents can travel from the beach to towering mountains in just a few short hours. Few states have the diversity of flora and fauna that California boasts (and in fact, no others can claim to have giant redwoods and sequoias), and just as few can boast the cultural diversity and history that lies within California’s borders. Yes, being a homeowner in California does have its perks, but there are also some significant challenges for which homeowners in California must prepare. Among those challenges? Floods.

During a period of just over fifty years, California experienced four hundred and eighty-three floods that were significant enough to prompt the governor to declare a state of emergency. This does not include any number of smaller floods that were limited to only a small area or one particular location known to be prone to floods. No county in California has been spared from a flood that caused a state of emergency to be declared. In fact, all counties reported at least four damaging floods during this fifty year period.

What does this mean for homeowners? This means that in California flood insurance is a very important investment and should not be overlooked. For some homeowners, California flood insurance is not a choice, but rather, a requirement. Individuals who own homes that are financed by a federal loan are required to carry flood insurance if they live in a Special Flood Hazard Area (SFHA). California homeowners with loans through a private institution are not required to buy flood insurance if they live in this area, but they are strongly encouraged to carry California flood insurance to protect their investment.

California homeowners may balk at the idea of paying yet another premium simply to have flood insurance. After all, real estate prices and property taxes come with a hefty price tag of their own, not to mention the standard homeowners policies that are expensive as well. But the premium should not be viewed as a deterrent. The cost of an annual premium is actually quite low in comparison to the cost of paying out of pocket or even taking low-interest disaster loans to make repairs in case of a damaging flood. Also, homeowners can make certain modifications to their homes and property that may decrease their premium and even that of their neighbors.

Homeowners in California who decide to protect themselves and purchase flood insurance can turn to one of two organizations to find a policy that fits their needs. The National Flood Insurance Program (NFIP) is federally-backed and offers standardized coverage at a specific rate. The National Catastrophe Flood Insurance Program (NCIP) is privately offered and can offer more comprehensive coverage, often at a lower price than the NFIP.

Flood insurance policies should be a priority for all California homeowners, no matter in which part of the state they reside. Affordable, comprehensive California flood insurance policies are available to be found, and will provide peace of mind.

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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