San Diego California Flood Insurance

San Diego California Flood Insurance

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San Diego, California is one of America’s crowning jewels. Rich in history and natural beauty, home to a diverse population, and filled to the brim with a vibrant economy and social scene; there aren’t many detractors to life in this city. But as with all things on Earth, there is no such thing as perfection, and San Diego is no exception. Flooding can and does affect San Diego from time to time, and for this reason, it is important for property owners in the city to strongly consider purchasing flood insurance to protect themselves financially.

 

Flooding in San Diego occurs for many different reasons. In the past, tropical storms, small tsunamis, and intense seasonal rainfall have caused flooding to occur in the city. Combined with other factors such as dam or levee failures, impeded channels, and clogged drain pipes; flooding has impacted the city numerous times over the last fifty years. Each time, damage-related costs soared into the millions of dollars.

Dates of Significant San Diego Floods 

-1976, 1977, 1978, 1980, 1987, 1995, 1998, 2005

 

In one thirty year period, eight significant floods occurred in the San Diego area, a figure that is higher than the threshold for high risk classification.

 

Source: City of San Diego Flood Mitigation Plan

While many San Diego property owners found themselves protected from these costs because they had purchased flood insurance policies before the event, other home and business owners found themselves paying their portion of the high costs out-of-pocket. Unfortunately, many individuals do not realize until it is too late that their standard home or business insurance policies do not cover flood-related damages. This is perhaps the most important reason to obtain flood insurance- to ensure financial protection in the event of a flood.

Property owners in San Diego have two options for purchasing flood insurance policies. The first is to obtain a policy through the National Flood Insurance Program (NFIP). This is a federally-funded program, and has long been the only provider of flood insurance policies in the United States. A second, more recent, program to offer flood insurance policies is the National Catastrophe Flood Insurance Program (NCIP). The NCIP is a privately-insured policy available in a limited number of states (including California). While each program has their own perks, the NCIP is considered to offer more comprehensive coverage with higher limits at a lower premium than the NFIP.

The Federal Emergency Management Agency (FEMA) has designated certain areas of San Diego as Special Flood Hazard Areas (SFHA). Properties in these SFHAs have a one-in-four chance of being affected by flooding at least once during a thirty year period. Any of these properties that were purchased with government-backed loans or grants are required by law to be covered by a flood insurance policies, and privately-funded properties are strongly encouraged to do the same. Lest anyone living outside a SFHA think they are safe, FEMA has shared that fully twenty to twenty-five percent of their claims are for properties outside of SFHAs. As always, a line on a map does not make the water stop flowing.

All properties in San Diego have at least some chance of flooding, and obtaining a flood insurance policy is the best way to ensure that a property is financially protected against the high costs of flood-related damage. Contact us now for more information about the San Diego California flood insurance.

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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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