FLOOD INSURANCE

Everyone has some risk of flooding no matter where your property is located. Did you know that there is a 26% chance of experiencing a flood during the life of a 30-year mortgage or that your standard homeowner insurance policy does not cover flood losses?  Did you know that it takes 30 days for a flood insurance policy to go into effect or that new policies will not be written once a storm approaches? It is important to protect your home or business from flood damage by purchasing flood insurance. Flood insurance is relatively inexpensive compared to the cost of possible repairs once flood damage has occurred. The average premium is about $540.00 per year, depending on your location and type of policy purchased.

The Town of Lake Clarke Shores participates in the National Flood Insurance Program (NFIP). The Federal Emergency Management Agency (FEMA) administers this program. NFIP offers reasonably priced flood insurance in communities that comply with minimum standards for floodplain management. The NFIP’s Community Rating System (CRS) recognizes community efforts beyond those minimum standards by reducing flood insurance premiums to residents of that community. The CRS assigns credit points based on additional flood protection activities that communities provide to help save lives and property in the event of a flood. Lake Clarke Shores currently has an 8 rating, which means that town residents with property located in a special flood hazard area (SFHA) can save 10% on their flood insurance.  

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