Severe Flood Research Paper

A generic definition for flood is something like this: It is an overflow of a quite large amount of water that goes beyond the normal level at a given area which is normally considered a dry land. But this simple definition hardly captures the picture of the disaster a flood can become and the damage it can wreak on a locality. With rapidly increasing unpredictability of the weather patterns globally and a number of natural and man-made factors interfering with the environment, a flood is a more common scenario today than ever. It is now considered as the most costly natural disaster too, as the recurring damages done by the floods across the country is putting a heavy toll on the financial planning and estimations nationally.

With increasing

Many people think that there would be sufficient aid from the government to recoup from the damages caused by a flood. This is a true concept, with some loopholes in it. Here are the facts for you.

Fact: In case of severe flood, the President may declare a certain area as a federal disaster area. The affected people of these areas would receive Federal disaster assistance to recover from the losses and start repairing or rebuilding their damaged properties. But, the presidential declaration is granted only for a few cases of severe damage and does not cover each and every flood-hit locality round the year. Also, this assistance is often provided in the form of a loan which must be paid back to the federal agency with interest over time. Plus, if any uninsured person receives federal help during one instance of flooding, they are required by federal laws to get adequate protection before the next disaster occurs, so that the aid can be distributed to people who really need it without any chance of

The general idea about getting an insurance coverage is to ensure protection for the insured in exchange of a given amount of money as premium. Flood insurance is no exception, with some limitations though. Here are the details.

Fact: the premiums of flood insurance policies depend on the result of the applicant’s risk analysis. If the house and its contents are very expensive and also the house’s location and other topographical features deem necessary then the policy can be a costly one. Otherwise, it can well be within a range of common affordability too.

Regarding the coverage, there is a cap of $250,000 for the house itself and another $100,000 for the personal properties on federal issued insurance policies. If the values of your assets are greater than either of these 2 caps respectively, then you can opt for additional coverage provided by surplus insurance policies issued by private insurers. So, make sure to discuss the risks and your assets thoroughly with a knowledgeable agent before buying the additional coverage and stay protected.

Myth#5: A new policy can’t be effective if there is already a flood forecast in