In many area of the country and in parts of Arizona water damage from floods are a serious issue. 

In fact, flooding is the leading natural disaster in the U.S., reports the Federal Emergency Management Administration. Flood losses averaged $2.4 billion a year the past decade.

However, in Maricopa County which includes the dry towns of Paradise Valley, Scottsdale, Fountain Hills, Peoria, Tempe and Phoenix, why do lenders ask,

” Are you  insured against floods ??

Further, if you are in a designated flood zone lenders mandate you have flood insurance.  Yes, mandated flood insurance here in the Valley of the Sun.

It is important for you to know that homeowners insurance does protect you from natural disasters  including wind, fire and lightning.

However, standard homeowners insurance does not protect you from floods.

If you want to buy flood insurance, it must be obtained through the National Flood Insurance Program administered by FEMA.

Without specific ‘Flood’ insurance, you are responsible for all costs related to flood disaster including cleanup and the contents of the home.  Most importantly…

 you cannot secure a Government loan to rebuild if you are not covered.

A year ago, the Insurance information Institute reported that 35% of all Americans mistakenly believed their homeowners’ insurance policies cover repairs or replacement from flood.

Make sure you know if you are in a area designated a flood zone. A title and escrow company can tell you with a quick preliminary title search.

In greater Phoenix, the Flood Control District of Maricopa County oversees the development and implementation of comprehensive flood hazard control measures in Maricopa County.

Be advised that even if you are in low to moderate flood risk or are just outside a flood zone area it may be worth spending a few dollars to protect your home and family.

Now, I have never heard of a flooding natural disaster in the Phoenix Valley.

However, during monsoon season waters do run off rapidly;  and if you have been victim of water damage you know …

it can only take a little water to cause significant damage to your home and belongings.

I have included the names of some excellent insurance professionals who can help review your homeowners policy and see if you are covered :

• Scott Simmonds -
• Cedric Reynolds -
• Dennis Volz -
• Ben Zolofra -
• Dan Garzella- ____________________________________________________________________________

Copyright © 2008 By James Wexler, All Rights Reserved. *Flood Insurance required in the Phoenix Desert

Contact James Wexler (480) 221-8080 for all your Phoenix | Scottsdale area Real Estate needs