Flood damage in Scottsdale is often not insured against as the residents feel they will never need it or they assume it is part of the basic homeowner’s policy. Everyone who owns a home has it insured against the normal perils such as fire and theft, but they often neglect acts of nature that they assume will never happen. A home is usually the single biggest asset anyone will ever have and insuring it against even unlikely events is certainly advisable and well worth the small addition to the annual premium. Flood insurance should be considered whether the home is mortgaged or not.
Obviously there are parts of the country that are more prone to floods than others, these are homes that are close to rivers and streams that can rise above their banks should there be a hard rain. In reality, a flood can happen anywhere if the conditions are right. Insurance industry statistics show that almost a full quarter of flood insurance claims come from areas of the country which are not considered high risk. If a home is located I a high risk area, and flood damage Scottsdale can be expected, mortgage holders will insist that flood insurance be carried for the building.
In areas where the risk is low, areas like the American South West, residents are liable to find alternate insurance plans. Instead of traditional flood insurance, companies offer what is known as preferred risk policies. This type of policy covers flood damage at a lower premium due to the low chance of floods occurring. The premium is based on the size of the home and its contents and whether the home has a basement.
When making the determination of how much flood insurance cover you should have you have to first determine if your are in a flood prone zone. The US government publishes a map of these zones and it can be accessed on the internet. Areas are segregated into those that are at high, medium and low risk and the assessment is made on topography, average rainfall and rivers in the area.
People in low risk areas who think that they will never see flood damage in Scottsdale AZ often believe that if there is a flood, the government will pay. This is only the case if the area is deemed an official disaster area.
