FEMA: Best Practice – Flood Insurance Points to Brighter Future, Fosters New Plans
Maddie and
But it was Harvey that provided a valuable lesson about the importance of flood insurance and prepared them for what was to come.
Harvey, the first hurricane to hit the
"We have a ground floor level that sits on a concrete slab and steps up about 2 feet into the pier and beam level," said Maddie, a life skills teacher's aide at
Without insurance, the Peddycoarts faced devastating expenses and a heartbreaking decision. The couple had to use their son's college fund to help pay for repairs.
"We had to make a home again," the mother of three explained. It was an expensive project.
That's when they decided to buy flood insurance. It was too late for their Harvey recovery, but they were much better prepared for the next storm with coverage through the National Flood Insurance Program.
they were followed by several hurricanes in most decades since then. People hold their breath each year in
Tropical Storm Imelda was one such catastrophic event. It hit
"We're 50 to 75 percent better off now [because of the insurance] than after Harvey, even though we have more damage," Maddie said.
Depending on the level of coverage, NFIP flood insurance policy holders may receive up to
Still, 90 percent of all presidentially-declared disasters involve flooding. Flood events also affect those living in areas thought relatively safe from flooding. With Harvey, 57 percent of NFIP Texas claims were submitted by policyholders outside of a special flood hazard area; after Imelda that number rose to 71 percent.
Though not near a river or other body of water, the Peddycoart house sits in special flood hazard area due to drainage in their low-lying neighborhood. And, there may be more help through their NFIP policy because the house is in that flood area.
If
Moving is not an option for the Peddycoarts.
"I grew up here and have very strong community ties, Maddie said. "We've thought about selling the property and rebuilding new in the area, but we love our land --and our pecan trees."
Thanks to their National Flood Insurance Policy, the Peddycoarts will still enjoy that land and those trees, all 37 of them.
Follow



Helena mayor, US Senate candidate found not guilty of leaving crash scene
Searching for Solutions: Residents look for answers after construction accident damages homes
Advisor News
- Trump to promote tax breaks in Las Vegas, where residents feel the pinch of high gas prices
- Lifetime income is the missing link to global retirement security
- Don’t let caregiving derail your clients’ retirement
- The ‘magic number’ for retirement hits $1.45M
- OBBBA can give small-business clients opportunities for saving
More Advisor NewsAnnuity News
- Lifetime income is the missing link to global retirement security
- ‘All-weather’ annuity portfolios aim to sharply limit rainy days
- Annuity income: The new 401(k) standard?
- Smart annuity planning can benefit long-term tax planning
- Agam Capital Announces the Continued Growth of Agam ISAC’s Bermuda Platform
More Annuity NewsHealth/Employee Benefits News
- Sagility Announces Strategic Alliance with Convey Health Solutions and Simplify Healthcare® to Launch Sagility Synchrony
- Baylor Scott & White Health Plan will stop providing Medicaid and marketplace coverage in Texas
- Mallory McMorrow shops maternal health plan with focus on Black mothers, addressing inequities
- SAFEGUARDING PATIENTS FROM COVERAGE LOSS, ELLMAN TARGETS OVERDUE PREMIUM POLICIES
- EMPLOYER-SPONSORED HEALTH INSURANCE 101
More Health/Employee Benefits NewsLife Insurance News
- Judge allows PHL policyholders to intervene, denies ‘premium holiday’
- eHealth expands into final expense insurance
- CID hosts info session for PHL Variable policyholders
- ‘Seismic changes’ cloud global economy, analyst says
- Lifetime income is the missing link to global retirement security
More Life Insurance News