Flood Insurance in Texas
Flooding has always been a problem in parts of Texas that are on the flood plain. But the Houston area has come under increasing threat. Twice in the past two years, in April 2016 and on Memorial Day 2015, Houston was hit with massive floods brought on by torrential rains. The floods washed out roads and underpasses and inundated homes unlucky enough to be near bayous that overflowed their banks.
Anyone who has been through a hurricane, such as Ike in 2008, knows that along with the winds, the flood waters that accompany such storms can cause an incredible amount of damage, especially in the low-lying coastal areas. The state is contemplating building a massive flood control system known as the “Ike Dike.” Bur until that time Houston and, indeed, the entire Gulf Coast remain vulnerable to flood waters.
The main reason that the Houston area has become more prone to flooding has been the massive development that has taken place in the city in recent decades. Ground that used to absorb rain has been paved over, becoming rivers when torrential rains arrive. Governments are now faced with the problem of finding ways to control flooding so that it doesn’t wash out private homes and buildings.
Why you need flood insurance
Your home insurance does not cover damage that is due to flooding. Flood insurance has to be purchased separately in Texas. Your premiums, deductibles, and other factors are determined by whether you reside in a flood plain or a lower-risk flood area. But 20 percent of flood damage claims are made by property owners in areas with a lower risk of flooding. Moreover, a 30-day waiting period exists between the date you buy flood insurance and when it goes into effect.
If you have questions concerning flood insurance, contact the Heydari Financial Group serving Houston, TX.