You remember the old saying….’if you don’t like the weather in Oklahoma, give it a minute’. After the last two months of unrelenting 100+ degree temperatures and not a cloud in the sky, some may think our ways are a changing.
Not so fast quick silver!
Oklahoma weather is still as fickle as ever. We shouldn’t get lulled into complacency during the long bouts of unchanging weather. The long, dry summer months are coming to an end and as history has shown us in the past, one season of extremes does not bode well for the rest of the year. We are probably in for a wild ride this fall and winter.
One thing Mother Nature loves to do here in Oklahoma is prove that she is a woman of excesses. A dry summer usually means a really wet fall. And when I say wet what I really mean is Oklahoma’s penchant for flash flooding. We’ve all seen and experienced it to some degree.
Does this sound familiar…….standing in your driveway, looking out on the river that you will have to drive your car down just to get to work and wondering if you should take some type of flotation device with you just in case?
What you really need to know is that a standard Oklahoma Home Insurance Policy does NOT cover flood related damage. Yep, you heard me right. If the water damage to your home or property is caused by an outside water source that is considered an act of God or due to a fickle Mother Nature it must be covered under a separate Oklahoma Flood Insurance Policy.
Now hold up and don’t panic just yet. If your home is not located within a FEMA designated 100 year flood plain, a preferred risk flood policy is available at very low premiums. Here are some of the particulars:
Standard Flood Insurance Policies
If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by a standard flood insurance policy. The NFIP was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
Preferred Risk Flood Insurance Policies
If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you aren’t required to purchase flood insurance in low-to-moderate risk areas, a preferred risk policy will protect your home and its contents if you are affected by a small flood or a larger flood that has extended into your low-risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.
Call one of our experienced agents for a free assessment and to make sure you don’t get stuck out in the rain without an umbrella!