Understanding Flood Zones: What They Mean for Your Insurance

Las Vegas, NV might not be the home of many floods but some areas may be in dangerous flood zones. But what exactly are flood zones and how do they affect your insurance policies? We at Leo Insurance Group can answer this question to ensure you fee comfortable with the answer.

What are Flood Zones?

Flood zones are a series of connected areas along flood-prone areas that indicate a region’s potential risk of this natural disaster. The Federal Emergency Management Agency, or FEMA, creates flood maps that lists areas at a high risk of flood and areas that have minimal risk.

These maps are fairly complex but are used by insurance companies when creating flood insurance packages. For example, people in high-risk areas are federally mandated to have protection from their insurers. Some individuals may get stipends or some compensation for these payments.

Buying Policies Outside High-Risk Areas

While the federal government doesn’t mandate flood insurance in low-to-moderate risk flood areas, these policies may still be beneficial. After all, low risk is not the same as no risk. Floods can happen just about anywhere, and an insurance policy can help protect your house.

The cost of your policy may vary depending on your flood zone. For example, some insurance companies may provide lower costs in areas with smaller risks and higher prices in areas with greater risks. That all depends on the insurer and other factors, such as state laws for that region.

Getting Great Flood Insurance

Please don’t hesitate to contact us at Leo Insurance Group if you need a flood insurance policy for your Las Vegas, NV home. While most areas of this desert area are not at high risk for flood, that doesn’t mean that a great insurance policy isn’t an excellent option in case one does occur without warning.

Las Vegas Nevada Flood Insurance: Do i Need It?

When you mention flood insurance to people in Florida or on the coast of the Atlantic, they say, "Of course I have flood insurance!" You will get the same response from people in the Ohio Valley who are close to the Mississippi River or other large bodies of water. But when you ask someone in Las Vegas, Nevada if they have flood insurance, the answer might be a blank stare.

That’s because they don’t live on the coast and they are not right next to rivers that might overflow their banks at the first sign of rain.  However, if you study the map of Las Vegas, you will find that they are only 30 miles from a large lake known as Lake Mead. In addition, there are a number of other smaller water inlets and streams, creeks, and small water sources that, when combined with hours of downpours, could end up flooding the Las Vegas area.

Learn from the Past

Many people have learned from other towns and states that were taken by surprise such as the state of Colorado that, in 2013, was covered with a huge flood that took hundreds of lives, farm animals, and property practically overnight when the Redstone River and other bodies of water converged after a 3-day flood. 

Who are We?

The professionals at Leo Insurance Group realize the insurance is not always something someone wants to add to their budget. But it is necessary to protect you from the unknown. In Las Vegas, NV, Leo Insurance Group can handle all of your flood insurance needs. Whether you are a business or personal property owner, it is important to make sure you are covered when that rainy day comes!

For more information, contact Leo Insurance Group if you live or work in the Las Vegas, NV area.