It’s most frustrating to read about and to see the problems people are having on the Gulf Coast in trying to get claims settled for their destroyed or damaged homes. Most of the questions of coverage have to do with whether the peril causing the damage was flood or wind. There’s no flood coverage in a homeowners policy, so people who carry both homeowners and flood insurance are coming out much better than those without flood coverage.

Is flood insurance as important to property owners as homeowners insurance? Floods are the most common natural disaster in the United States. There’s a 26 percent chance of experiencing a flood during the life of a 30-year mortgage, compared to a 9 percent chance of fire.

Don’t assume the government will give financial assistance due to flooding; that only happens if the president formally declares a disaster, and it’s often a loan you have to repay—with interest. The best plan is to buy flood insurance and stay protected no matter what. Flood insurance claims are paid even if the disaster isn’t federally declared, and you’ll be reimbursed for all of your covered losses.

This is a timely subject since spring thaws and rains can bring flooding to river basins. Overburdened or clogged drainage systems lead to property damage both within and outside floodplains, and construction and new development affect natural drainage and can create new flood risks. A flash flood can strike anywhere without warning when a large volume of rain falls within a short time. Dangerous or damaging floods don’t always mean dramatic, rushing waters through the streets of your hometown. Just a single inch of water can cause costly damage to your home.

It’s a good idea to buy flood insurance even though you live in a low- to moderate-risk area. Twenty-five percent of all flood insurance claims come from areas with minimal flood risk, and you could be eligible for a Preferred Risk Policy (PRP) for under $200 a year, including coverage for contents.

Most insurance agents can help their clients take care of their flood insurance needs easily through the National Flood Insurance Program (NFIP). It takes 30 days after purchase for a policy to take effect, so don’t wait until the creek starts rising. TPW