Fl Risk Blog

HMGP- A grant made available after a Presidential disaster declatation www.fema.gov/government/grant/hmgp/index.shtm

• Some people have purchased flood insurance because it was required by the bank when they got a mortgage or home improvement loan. Usually these policies just cover the buildings structure and not the contents. During the kind of flooding that happends in your area, there is usually more damage to the furniture and contents than there is to the structure. Be sure you have contents coverage.
• Dont wait for the next flood to buy insurance protection. In most cases, there is a 30-day waiting period before National Flood Insurance Program coverage takes effects.
• Contact your insurance agent for more information on rates and coverage.

Homeowners’s insurance policies do not cover damage from floods. However, because the gulf beaches participate in the national Flood Insurance Program, you can purchase a separate flood insurance policy. This insurance is backed by the Federal government and is available to everyone, even properties that have been flooded. Because the beaches participate in the Community Rating System, you will recieve a reduction in the insurance premium.

• Mark your fuse or breaker box to show the circuits to the floodable areas. Turning off the power tot he garage can reduce property damage adn save lives.
• Avoid building in a floodplain unless you elevate and reinforce your home.
• Elevate the A/C system, water heater, and electric panel is susceptible to flooding.
• Install “check valves” in sewer traps to prevent flood water from backing up into the drains of your home.
• Construct barriers to stop floodwater from entering.
• Floodproof areas below teh base flood elevation.

NFIP: This community participtes in the National Flood Insurance Program (NFIP). The NFIP makes federally backed flood insurance available for all buildings, whether they are in a floorplain or not. Flood insurance covers direct losses caused by surface flooding, including a river flowing over tis banks, a lake or ocean storm, and local drainage problems.

The NFIP insures buildings, including mobil homes, with two types of coverages: Structural and Contents. Structural coverage is the walls, floors, insulation, furnace, and other items permanently attached to the structure. Contents coverage may be purchased seperately provided the contents are in an insurable building.

Mandatory Purchase Requireme: The mandatory purchase requirement applies to all forms of federal or federally related financial assistance for buildings located in a Special Flood Hasard Area (SFHA). This required afftects loans and grants for the purchase, construction, repair, or improvement of any publicly or privately owned building in the SFHA, including machinery, equiment, fixtures, and furnishings contained in such buildings.

• Know how to shut off the electricity and gas to your house when a flood comes.
• Make a list of emergency numbers and identify a safe place to go.
• Make a household inventory.
• Put insurance policies, valuable papers, medicine, etc. in a safe place.
• Collect and put cleaning supplies, camera, waterproof boots, etc. in a handy place.
• Develop a disaster response plan-See Red Cross website: www.redcross.org/services/disaster for a copy of the brochure “Your Family Disaster Plan”
• Get a copy of Repairing Your Flooded Home. Also found of the Red Cross website.

Here are some things you can do to help protect yourself and your proerpty from future flooding:

1. Check with the Building Department (727-517-3940) on the extent of past flooding in your area. Department staff can tell you about the causes of repetitive flooding, what the Town is doing about it, and what would be an appropriate flood protection level. Town staff can visit your proeprty to discuss flood protection alternatives.

1. Start in a room and use a video camera or digital camera to shoot pictures of all the items. Include clothes, jewelry, furniture, kitchen items, etc. Make sure to open drawers and closet doors and include all the contents.

Consider your entire situation. If your spouce was justlaid off or youre still paying tuition bills, dont spend your cash on a Roth conversion. If youre under 59 1/2, youll pay 10% penalty for withdrawing converted Roth funds within five years of setting up the account.