Flood Insurance in Idaho
When residents new to Hailey, Idaho ask agents at Harrison Insurance and Financials if they should investigate flood insurance, we tell them yes, especially if you live or own property near Indian Creek, Quigley Creek, or Big Wood River. This is because the Flood Emergency Management Agency (FEMA) has determined that property in the vicinity of any of these waterways is considered a floodplain, and as such, maybe in the city's Flood Hazard Overlay District. Since land here is in the Special Flood Hazard Area, property owners may qualify for national flood insurance.
The Importance of Floodplains
Floodplains must be preserved since they contribute many benefits to Hailey such as providing healthy wildlife habitat and pure water. They also offer recreational and educational opportunities. Since stormwater runoff and snowmelt drain to the above-named waterways, flood hazard overlay districts are set up to promote public health, safety, and general welfare as well as to minimize private and public losses caused by floods. One of the provisions to which property owners are entitled is participation in the National Flood Insurance Program.
The National Flood Insurance Program
The National Flood Insurance Program is a federal program set up to lower the hazard of flooding and reduce the price of flood insurance for anyone living in a FEMA determined floodplain. Since the city of Hailey participates in the program residents in the areas outlined above qualify for flood insurance. Since Harrison Insurance and Financials is one of the insurance agencies in this area, we can assist you in getting flood coverage.
Flood Insurance versus Standard Homeowner's Insurance
This is especially important since a standard homeowner's property insurance policy does not include flood insurance, a fact all too many homeowner's find out the hard way after their property is underwater. With flood insurance in place, you can feel confident, knowing that whatever mother nature brings your way, you're covered.
Another little-known fact is that flood insurance policies require a 30-day waiting period before taking effect. So, if you feel your Hailey, ID neighborhood can be impacted by flooding caused by either heavy downpours, snowmelt, or both, we encourage you to call any of us at Harrison Insurance and Financials today.