04 Sep Huntington Beach California Flood Insurance
Huntington Beach, California’s claim to fame is its surf. As a result of several different natural factors, beachgoers can enjoy some of the best surfing conditions in the United States. Many local residents are quite knowledgeable about this topic and are ready and willing to share their expertise to new residents and out-of-towners alike. Another subject that local residents should be well-versed in is the need for flood insurance in Huntington Beach, CA.
Several different bodies of water and man-made creations combine to put most of city at a statistically significant risk for flooding. In fact, the risk is great enough that the Federal Emergency Management Agency (FEMA) has declared several large swaths of Huntington Beach as Special Flood Hazard Areas (SFHA). In these areas, a home or business has a one-in-four chance of being flooded at least once during a thirty year period.
Residents should know that federal regulations require that any home that is financed by a federal program (Fannie Mae, Rural Development, etc) and located in a SFHA must be covered by a flood insurance policy. Private lenders may also require or strongly recommend coverage for homes located in a SFHA. It is also important to know that standard homeowners or business insurance policies typically do not provide coverage for flood damages, leaving property owners to pay the high cleanup costs out-of-pocket.
|What Contributes to Your Flood Risk?
The following bodies of water and man-made channels combine to create large Special Flood Hazard Areas in the Huntington Beach area:
-East Garden Grove Wintersburg Channel
-Santa Ana River
Even if you are not located directly adjacent to one of these lakes, channels or rivers, you may still be living in a SFHA. Talk to your insurance agent for the best advice and information.
When it comes to selecting a flood insurance policy, it is important for Huntington Beach property owners to do their research and find a policy that best meets their needs. The first step of this research might be to learn what agencies or organizations may offer flood insurance policies. Traditionally, the government-backed National Flood Insurance Program was the only provider, and residents purchased these policies through local, regional, and national insurance agencies. More recently, a second option for property owners has emerged on the market: the privately-underwritten National Catastrophe Flood Insurance Program (NCIP).
The next step for Huntington Beach property owners researching flood insurance policies may be to look at the type and amount of coverage offered by each program, as it can vary greatly between providers. For instance, both programs would provide the money needed to replace the structure of the residence or business, but the NCIP would also provide the funds to replace the contents of the building while the NFIP would not. As each property owner has different needs to consider, it is important that they take the time to carefully consider which program offers the type of policy that will provide the best financial coverage for their investment.
Property owners in Huntington Beach, California may not have thoughts of flooding on their mind on a regular basis, but learning about the flood risks in the city as well as the insurance options available to provide financial protection will ensure that if a flood does occur, they will be well-prepared and well-protected. Contact us now for more information about the Huntington Beach California 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.