Flood after fire? Know your risks
I t’s common knowledge that flooding follows heavy rains, but did you know that your flood risks increase after wildfires? According to the Federal Emergency Management Agency (FEMA), floods are the most common and costly natural hazard in the nation. While they are usually caused by thunderstorms, hurricanes, or winter storms, large-scale wildfires can dramatically alter terrain and ground conditions, creating conditions ripe for flash flooding. While some floods develop over time, flash floods, which are particularly common after wildfires, can occur within minutes after a rainstorm and in areas not traditionally prone to flooding. FEMA reported that more than 40% of flood claims submitted between 2014 and 2018 have come from outside high-risk flood areas. An unexpected weather event is not the time to learn the hard way – or rather the wet way – that your personal or commercial insurance doesn’t cover property damage caused by floods.
GGA, a subsidiary of Germania Insurance, adds value to Germania and its agency force by providing access
to additional insurance products and services, including personal and
commercial flood insurance. Staffed with flood insurance experts, GGA is also able to assist insureds with the claims process in the event of a catastrophic event.
A basic property insurance policy may pay for water damage inside your house, such as a burst pipe, but will usually not cover the peril of flooding from rising waters. Flood insurance must be purchased separately to cover your home and its contents in the event of a flood. If you’re a business owner, the National Flood Insurance Program offers commercial flood insurance to help protect your business’ structure and equipment, including your foundation, electrical, plumbing, finishings, furniture, inventory, and more. If your business resides outside of a high-risk flood zone, you may be eligible for discounted flood insurance rates. For more information, speak with your Germania authorized agent or contact GGA directly at GGA@germaniainsurance.com or 855-442-1669 to request a quote today.
No matter where you live or work, it’s important to understand the flood risk and what it can cost you, says Germania General Agency (GGA) Underwriter and Flood Specialist Heather Alexander. “Don’t wait until there’s an approaching threat to get coverage,” Alexander said. “Unless flood insurance is required by your mortgage lender, there is anywhere from a 15- to 30-day waiting period for coverage to take effect.”
Summer 2021 | 5
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