In the life of a 30-year mortgage, there is a 26% chance of flooding. Regardless of your location to flood zones, everyone in West University Place is encouraged to purchase flood insurance. Basic homeowner’s insurance policies do not cover damage from floods. The City participates in the National Flood Insurance Program, which means that federally subsidized flood insurance is available to everyone in the city. Remember there is a 30-day waiting period before the policy becomes effective. Some people purchased flood insurance because it was required by the bank or loan company when they obtained a mortgage or home improvement loan. Usually these policies just cover the building’s structure and not the contents; however, policies are also available to cover contents. Remember that a flood insurance policy must be renewed every year. Visit Floodsmart: The Official Site of the National Flood Insurance Program for more details on flood insurance including types of policies, coverage options, and other useful information.
Flood insurance is the best wat to stay protected against flooding damage, but there are alternatives - financial assistance options.
The following FEMA publications may also provide more information:
- Things You Should Know about Flood Insurance
- Summary of Coverage
- Cheaper Flood Insurance: 5 Ways to Lower the Cost of Your Flood Insurance Premium
- Flood Insurance Claims Handbook
- Filing Your Flood Insurance Claim
- Appealing Your Flood Insurance Claim
- Answers to Questions about the National Flood Insurance Program
Community Rating System
The City of West University Place also participates in the Community Rating System, a voluntary federal program that rewards communities that implement higher standards by providing discounts on flood insurance policies. West University's efforts enable property owners in the floodplain to get a 15% discount and some property owners outside the floodplain may be eligible for a discount. For more information about flood insurance, you can visit the National Flood Insurance Program website, call the City's Floodplain Manager, Clay Chew at 713.662.5830, or call your insurance agent.