Flood Insurance in Houston Just Makes Sense

August 27, 2010

Flood insurance has been a hot topic in real estate this year. I know that most have not heard too much about it. The headlines have all been about the recession, foreclosure rates, plummeting home values, and high unemployment. The National Flood Insurance Program has been allowed to lapse several times this year leaving all Americans in a bind, not just those in a flood zone. We currently are set through September 30, and an extension of the program is likely without a lapse, but there are no guarantees.

Many people believe that flood insurance is only necessary if you live right on the coast or near a stream, river or bayou. That just isn’t true. We all need flood insurance, and the current structure of the program just isn’t getting the job done.

Without the NFIP there is no affordable flood insurance.

The National Flood Insurance Program, regulated by Congress and FEMA, backs private insurers and pays claims after a flood event. The program provides discounted rates for millions of properties and has been running out of money for quite some time. Hurricane Katrina packed quite a punch to the system, but it is only one of many hurdles the program has had to face.

Read this USAToday article to find out more about what is wrong with the current structure of the program.

That’s really interesting, but I don’t need flood insurance.

Many people feel that way. Those of us that were born and raised here understand the lay of the land a little better than most. I was raised in Houston, and I saw flooding in spots during Tropical Storm Allison that I had never seen flood before. The fact is, if you live in a place where it rains then you need flood insurance. TS Allison was a perfect rain-maker and while you won’t see that set up often, you may see it again. This video with Frank Billingsley illustrates how stressful that storm was.

We advise all of our clients to purchase flood insurance, no matter where the home may be. If you are reading this and you are haven’t worked with us, you may be unsure about your current situation. If you have some questions about your home and are thinking about purchasing additional insurance or would just like a review of your home and an evaluation of your insurance needs give us a call. We work with great insurance agents that would be happy help.

Stacy Jones is a REALTOR you can trust

Stacy Jones
832-722-7731

Stacy is a licensed REALTOR® and the team leader of The Jones Team, a group of REALTORS® in Katy, who work together to provide exceptional service for their clients. Stacy and his team specialize in the areas west of downtown Houston. These incredible real estate agents can help you buy or sell a home in locations such as Katy, Cypress, far West and Northwest Houston, Richmond, Fulshear, Sugar Land, Spring Branch, Memorial, Spring, Tomball, The Woodlands, and Magnolia. Whether you are in the market to sell a home, buy a home, have a question about home appraisal value, need advice about home staging ,or have any other real estate related questions, Stacy and The Jones Team are available to help.

 

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