25 Aug Yerington Nevada Flood Insurance
Yerington, Nevada is classified as a desert climate, a climate not usually synonymous with flooding risks. However, the hard and dry land in the area does not readily absorb water, so any time snowpack or rare heavy rains impact the area, flooding becomes an issue. Even the best levees and culverts can be inundated in situations like these, allowing floodwaters to build up and potentially pour over into local homes and businesses. For this reason, residents of Yerington should strongly consider purchasing flood insurance for their home or business.
Across the nation, the Federal Emergency Management Agency (FEMA) has performed hydrological and statistical studies to determine which areas of the country are most likely to flood. Such studies have been performed in Yerington, and they have shown that many properties in and along the Walker River are considered Special Flood Hazard Areas (SFHA). Properties in these SFHAs have a one-in-four chance of flooding at least once during a thirty-year periods. Any federally-mortgaged home in a SFHA is required to be covered by a flood insurance policy, and all others both within and outside of the SFHA are strongly encouraged to obtain coverage.
| Recipe for a Disaster
In 1997, warm and heavy rains fell over dense snowpack in the Sierra Nevadas. Melting snow and runoff from heavy rains led to flooding that resulted in nearly $20 million of damages.
Storms like these are rare, but the damage and financial side effects are significant enough to last for years. Being proactive and obtaining flood insurance before the storm ensures a faster and less exhausting recovery after the fact. |
Why is coverage so important to Yerington property owners? Financial protection. A mere one inch of floodwater can easily cause tens of thousands of dollars in damage to property. Standard insurance policies for homes and businesses do not cover the cost of repairs for damages that are a result of flooding, leaving property owners to pay for the repairs on their own. This is a potentially devastating situation that can be avoided with the purchase of a flood insurance policy that will cover repair and replacement costs.
Yerington residents can choose from one of two insurance programs to obtain their policy. The first is the National Flood Insurance Program (NFIP). The NFIP offers federally-funded policies to any property owner in the United States through local, regional, and national insurance policies. Premiums are based on a number of factors, including the property’s location, actual likelihood of flooding, and whether or not the owner has taken any flood mitigation steps. NFIP policies are activated after a thirty day waiting period.
A second option for Yerington residents is the privately underwritten National Catastrophe Flood Insurance Program (NCIP). This is a newer option on the market, and only available in a select number of states. Proponents of the program state that the NCIP offers higher and more comprehensive coverage limits than other programs, as well as more affordable premiums. NCIP policies also have a waiting period imposed, but it is only fifteen days.
Desert climates may not seem like the most likely place to encounter a flooding scenario, but it is not out of the question. Yerington, Nevada residents are fortunate to have two options that provide them with ample coverage to financially protect themselves from the high costs of flood damage and should take action now to obtain that coverage by purchasing a flood insurance policy. Contact us now for more information about the Yerington 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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