Whether or not you need flood insurance in San Antonio, TX depends on the level of risk you face. FEMA has designated some areas in Texas as "minimal risk areas," which means that the risk of flooding in those areas is lower than in a floodplain classified as a special flood hazard. But recent research indicates that the flood risk is still present. In fact, San Antonio is ranked among the top 20 largest flood-prone cities in the country.
The High Cost Of Flood Damage In San Antonio
Integrity Advisors Agency LLC (Stephen Reese) believes it is vital to understand the scope of flood damage, and why flood insurance is important for everyone. In general, a flood in San Antonio could result in a flooding cost of approximately $45,000 per property, depending on where you live in the city. And with the changing climate, that number could grow within 30 years. According to FEMA, as little as one inch of water can cause $25,000 worth of damage.
Historically, flooding has cost San Antonio millions of dollars. The flash flood of October 17th, 1998 alone cost private and public property owners over $115 million. (That’s over $203 million when adjusted for inflation.) More recently, a deluge in May 2013 caused so much destruction the figures are still being counted today, with $5 million in relocation costs for a single neighborhood alone. There is a reason this region is called "Flash Flood Alley".
While flood insurance is not required by law, it can help protect your property. Standard homeowner’s insurance policies do not cover flooding, so you may need to buy flood insurance separately. In addition, you may have to wait 30 days before your policy becomes effective. But if you do, you can rest assured that your property is protected against this potentially devastating threat.
Whether you need flood damage restoration or a new house, there is always a cost involved. Flood insurance can make the difference between losing your savings or moving on quickly after a disaster. Learn more about the dangers of flooding, and the necessity of flood insurance in San Antonio, TX, from Integrity Advisors Agency LLC (Stephen Reese) today!
