Flood Insurance – It’s not just for Hurricanes Any More

It’s storm season, folks. And in addition, increasing numbers of floods are happening in non-flood hazard areas. Two thirds of the people in the recent Louisiana floods did not have flood insurance because they were ‘told they didn’t need it’ because they are not in a high-hazard zone. AND there was only a rainstorm, not a hurricane or even a named tropical storm.

In the rainstorm that affected us here in Babylon and surrounding areas in August of 2014, I lost a 6 month old SUV on Park Ave in the Village to the floods, nowhere near ‘the water’ (Great South Bay or Ocean). In this case, over the years, increased covering of the land by buildings and parking lots to the north of us, in North Babylon, Deer Park, and Dix Hills, has messed up drainage and runoff, has caused water to stream down from towns north of us. Where years ago it was absorbed by open land, now gravity still causes the water to run south towards the bay, but it has no place to go except in the roads and streams.

FEMA bases it’s flood zones mostly on STORM SURGE from bodies of water. but even if you are not near a river, lake, bay or whatever, if you get 25 inches of rain in a day, like they did in Louisiana, drains will be overrun, and there WILL be local flooding. I was speaking with the local building inspector the other day, and he was explaining that our drainage systems are designed to handle up to 5 inches of rain in a day. The rate they were getting hit in Louisiana was 4 inches PER HOUR!

New data by AON/Benfield that we were introduced to a couple of weeks ago at the National Flood Services annual conference, is gathering lots of information on things like how much rain our municipal drainage systems can handle, where trees are likely to come down and cause a natural dam that can bring on a flood, and even where rubble from damaged buildings and trees is likely to accumulate and block waters.

They are able to do this thanks to new military-grade satellite photos and info, Google Earth, and more. As with many business models, they will be using the information to try to be sure they are charging the correct rates, which are in some cases higher and in some cases lower than what FEMA does by drawing general ‘flood hazard zones’.

It’s going to be an interesting few years as storms continue to intensify, sea levels continue to rise, and more products and options come to the flood insurance marketplace on Long Island and all over. And it will become more and more important to buy your flood insurance from someone who knows the ropes because it also is not just FEMA anymore, and pretty soon the rates will NOT all be the same.

For another interesting article from a trusted source, see this article from Consumer Reports: