Central Contra Costa area friends:
I would say we all got a pretty good peek at Mother Nature these past couple of weeks. Rivers and creeks overflowing their banks and some areas never expected it. Did you know that your normal homeowner insurance may not cover a flood (defined as excess rain, mud or water on normally dry land). I was watching KTVU Channel 2 news this morning and their consumer editor, Tom Vacar was speaking on this very subject. He says, we Californians don't take the threat of flooding seriously. In California only 260,000 of our 12 million people have flood insurance. He also noted that there is no insurance for land movement, except for some very expensive specialty plans.
As a Realtor here in Contra Costa and a near lifetime resident, I know flooding happens. I've been surprised at times at some of the homes I've seen in flood plains, and equally surprised of some that weren't. At the time of purchase it is required that you receive a Natural Hazard Zone disclosure. This will provide you information as to whether you are in a federally indicated flood zone - sometimes this will cause your mortgage company to require flood insurance. Sometimes improvements have been made and not yet reflected on the mapping, and you can avoid it. But, did you know that 25% of all flood claims come from folks NOT in a declared flood zone?
Below is a website that will help you determine if you are in a flood zone. If you are, contact your insurance agent to discuss flood insurance options. Use these past storms as a lesson on what can happen, and remember that over a 1/4 of flood claims come from folks who thought they were safe.
I've personally lived in my home going on 11 years! Don't have flood insurance and was told at that time I was outside of any known flood plain. However, using this website today shows I am at high risk for flooding. I am checking on this myself today and ordering my own natural hazard zone report. If this is true, this was a wake up call. If not true, then take the results of this website with a grain of salt, but still check out what it tells you. It could be a very expensive mistake if you ignore the risk.
Take note too, if you decide to get flood insurance, there is a 30 day waiting period.. so do it now, before something does happen to you. To use a phrase coined by the local security company, Bay Alarm, "Better a Year too soon, than a day too late."
Take this time too to review with your insurance agent just what your homeowners policy will cover, and not. It will not cover flood or earthquakes! Do your research now.
For more information, call Catherine Myers, Alain Pinel Realtors in Walnut Creek.
925-627-3027
Ready to buy or sell a home in Walnut Creek, Concord or Central Contra Costa ? Call Catherine Myers today for all your real estate needs.
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