Flood Risk After Wildfire

Flood Risk After Wildfire

Flood risk after a wildfire increases the need for flood insurance. The time to purchase flood insurance is now. To address many of the common myths and rumors during the New Mexico wildfires, FEMA activated a rumor/myth webpage. You can access it online at  fema.gov/nm-rumors.

As a trusted REALTOR® in the community, you are in a position to help clients vulnerable to the risks of flooding by promoting actions that shield the lives they have built from devasting loss.
 
Here are four things to remember about flooding: 

  • For everyone: Flooding can happen anywhere, at any time. Limited drainage systems, backyard streams, neighborhood construction, and even summer storms can all cause devastating flooding. 

  • For homeowners: Flooding can happen even if you live far from water. In fact, between 2015 and 2019, 40% of NFIP claims came from outside high-risk flood areas.

  • For renters:  A standard renters insurance policy typically doesn’t cover flood damage. Your landlord may have flood insurance to cover the building you live in, but it's likely that their insurance will not cover your personal belongings should a flood occur.

  • For business owners: Almost 40% of small businesses never reopen their doors following a flooding disaster.

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