Flood Insurance

Every year, floods cause significant property damage throughout America. Years ago, private insurers had difficulty providing economically viable flood insurance, so the government stepped in to subsidize the process. The National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency (FEMA), was created in 1968 to provide flood insurance to properties that are
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“Acts of God”, for insurance purposes, are defined as events that occur through natural causes and could not be avoided through the use of caution and preventative measures. In essence, the phrase “Acts of God” refers to natural disasters. The phrase generally brings to mind hurricanes, tornadoes, earthquakes, hail, or floods. However, the lines can
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Flood insurance is required if you live in an area designated as a potential flood zone by the Federal Emergency Management Agency (FEMA). However, some 20-25% of flood claims come from moderate and low risk areas – not to mention the impact on uninsured people who are affected by floods. How do you determine your
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The National Flood Insurance Program is a government program run by the Federal Emergency Management Agency (FEMA). If your home or business is located within a 100-year flood zone as determined by FEMA, you will be required to purchase flood insurance to obtain a mortgage or business loan. Flood insurance must be purchased as a
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