Inland flooding represents twenty percent of all flood claims.
Much of this statistic is due to development. More area is impervious pavement, so storm water flows as sheet runoff to the next site or the nearest creek. The creeks and rivers collect water much faster than natural flow and the banks overflow more often as a result. Floods occur naturally inland too in just relatively low areas.
Look at the area surrounding your location. Is there any more room for potential development up-gradient from your site? Check for a mile or so. If so, it’s a good idea to look into flood insurance.
Because flooding is less likely, premiums will not be excessive. But, flooding must be written well ahead of predicted flood events.
Flood insurance is written as a building value or a contents value. You can mitigate some flood damage by storing vulnerable goods off the floor.
Hurricanes have forced inland and more northerly in the last few years. Landfall can be anywhere on the east or Gulf coast. The volume of rain carried by hurricanes devastates unprepared communities. Low lying areas receive the majority of the storm water, and it comes fast.
Richmond, Virginia suffered a massive storm impact when one flood came down the James River, which the flood walls repelled. But, a second large storm drenched the land side of the same walls. So flood walls held the storm in. Of course, this two-storm system is rare and impossible to plan prevention.
The lesson learned is to apply the risk management techniques of risk transfer. Figure the largest loss a flood can cause. Remember, you may not be able to get to your property to move goods before the storm.
Investigate flood insurance. It does take time to implement a program, and it must be in place prior to storm warnings. Do not procrastinate.
