Carson City Nevada Flood Insurance

The topic of flood insurance probably does not come up much in conversation if you live in a city like Carson City, Nevada; which might traditionally be described as having a “desert climate.” No, talking about floods is probably not on the list of conversation points when it is warm and sunny most of the year. But just because bad weather isn’t the “norm” for a place like Carson City does not mean bad weather will never come. For this reason, flood insurance should be a topic of conversation at least once for every property owner.

All areas of Carson City are at some risk for floods. Especially in an area where the ground is hard and dry, one rainstorm with heavy rainfall totals in a short amount of time is all it would take to cause a flash flood that could inundate homes and businesses. In addition to the general flood risk, there are areas of Carson City that are classified as Special Flood Hazard Areas (SFHAs) by the Federal Emergency Management Agency (FEMA). Areas along Ash Canyon, Kings Canyon, and Goni Canyon creeks have an increased risk for flooding. During a thirty year period, these properties have a 1-in-4 chance of flooding.

Why such a big deal about a seemingly small risk? Costs related to flood damages can quickly and easily skyrocket by the time you factor in the cost of structural damage, replacing walls and flooring, and refurbishing or replacing goods inside the property. Flood insurance policy premiums, on the other hand, are quite affordable in comparison to the cost of repairing flood damages. Financial Protection for consumers is why FEMA encourages most homeowners to purchase a flood insurance policy, and requires it for homes and businesses located in  Special Flood Hazard Areas.

For property owners in Carson City who are looking to protect their assets by purchasing a flood insurance, the first and easiest step is to compare the policies currently available on the market. Traditionally, flood insurance policies have been purchased through the National Flood Insurance Program (NFIP). NFIP policies are offered by the federal government, and require several steps to be take before they are approved, including the requirement to obtain an elevation certificate and taking steps to mitigate potential flood damages.

A second option, which is newer to the flood insurance market, is a policy through the National Catastrophe Flood Insurance Program, or NCIP. This program is underwritten by private insurers from Lloyd’s of London. Proponents of the program claim that the NCIP offers lower premiums than the NFIP, and also offers high coverage limits and more comprehensive coverage.

No matter which policy best fits your needs, it is important to take action as soon as possible. Flood insurance policies are not immediately activated after approval. In fact, the NCIP has a fifteen day waiting period, and the NFIP waiting period is a full thirty days. Taking steps to obtain flood insurance coverage now will provide protection and peace of mind down the road. Contact us now for more information about Carson City Nevada 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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