Floods are the most common natural disaster in the United States, according to the Federal Emergency Management Agency, and Arkansas had more floods than any other state from 2008 to 2017. Water damage can be extremely costly. A few inches of water may destroy flooring and furnishings, as well as cause pricey appliances and electrical equipment to short out. The average flood insurance claim costs around $40,000. If you don’t have flood insurance, you should get it as soon as possible. Even if you’re a renter rather than a homeowner, you can get flood insurance.
Why Arkansas Tends to Flood
Arkansas is an inland state with abundant water resources. In addition to large recreational lakes, reservoirs, and creeks, we have the Buffalo, Mississippi, Little Missouri, Arkansas, Red, White, and many other rivers. Even so, many Arkansans may be unconcerned about flooding.
Flooding is frequently ranked lower on our priority list than tornado damage. Despite the reality that floods cause more damage than tornadoes, thunderstorms, and hurricanes combined, floods continue to be underestimated. Wind and hail damage may be covered under your homeowners insurance policy. Flooding-related water damage is not covered.
In a given year, people in “low risk” areas file 20% of flood claims and receive a third of the payouts.
The History of Flooding in Arkansas
The Great Flood of 1927 is famous for the vast area of territory it flooded (6,600 square miles and 36 out of 75 Arkansas counties) and the massive amount of damage it wreaked. However, there have been other notable floods in recent years. Sheriff’s deputies had to rescue individuals from their homes in Clinton by boat in August. Only six hours of torrential rain resulted in an eight-foot flood in their historic downtown.
In 2017, eight Arkansans were killed by flash floods around the state. In 2011, eighteen people died as a result of floods, the highest number of flood-related deaths in any state that year. In 2010, near Langley, flash floods killed over 20 people in a single morning, with the Little Missouri River rising at times at about eight feet per hour. Heavy rains in March 2009 prompted rivers to rise to their greatest levels in over a century, resulting in catastrophic flooding. Almost every year, flooding causes parts of Burns Park in North Little Rock to close. The Arkansas River’s banks in downtown Little Rock are submerged a couple of times a year.
“Low Risk Flood Zones are Still at Risk
Even if you don’t reside in a flood zone, having a flood policy is a good idea. Because they weren’t in a defined flood zone when Katrina hit, many Katrina victims in Louisiana and Mississippi didn’t have flood insurance “Floodplains.” In actuality, residents in “In a given year, low-risk areas submit 20% of NFIP claims and receive a third of the payouts. Heavy rain, snow, overflowing bodies of water, and infrastructure issuesaging dams, drainage, and water systemsall contribute to floods.
Mudflow is also covered by flood insurance, which may be a concern if you reside on a hill. A dike on the Little Red River broke in February 2017, creating a mudslide that damaged many residences in Pangburn. At least ten homes were flooded as a result of the mudslides. A mudslide in Madison County destroyed a home in 2015.
If you live in a flood-prone location (you can find out if you do by entering your address here), your home has a 26 percent probability of flooding over the duration of a 30-year mortgage. Water is almost twice as likely to cause damage to your home as fire. Before a bank can approve your mortgage, you must have flood insurance if you live in a flood zone.
If you don’t have insurance, don’t count on federal disaster assistance to cover flood damage. Federal disaster assistance is usually in the form of a low-interest loan rather than a cash payment.
Purchase Flood Insurance For Your Home
FEMA’s National Flood Insurance Program allows private entities to sell flood insurance. Farm Bureau Insurance can help you get one of these flood insurance policies. Through one of our Brokerage Companies, our agents can also place coverage for Private Flood Insurance.
Flood insurance costs vary based on your coverage, the location of your property, and whether you are a renter (and thus only insuring contents) or a homeowner (in which case, you would probably want to insure contents and the structure). It’s crucial to note that NFIP coverage is limited to $350,000, so depending on the value of your property, you may need additional coverage. Contact a Farm Bureau agent right away to discuss your flood insurance requirementsthe sooner the better! Because most policies take 30 days to take effect, this is one sort of insurance you don’t want to put off getting or letting lapse.
What is the average cost of homeowners insurance in Arkansas?
Arkansas homeowners insurance is 63 percent more expensive than the national average of $1,312 per year for $250,000 in dwelling coverage. The higher average premium in Arkansas could be due in part to the frequency of natural disasters that result in insurance claims. Arkansas’ average rates are higher than those in states like Delaware and New Hampshire, which suffer fewer national disasters. In Delaware, the average yearly cost for $250,000 of dwelling coverage is $680, whereas in New Hampshire, it is $724.
Do I need flood insurance in Atlanta?
In Georgia, flood insurance is not needed for every property or company. However, because roughly 20% of flood insurance claims come from moderate- to low-risk locations, even though flood insurance is not needed for your property, we strongly advise you to carry flood insurance.
Is USAA flood insurance transferable?
- Flood insurance coverage can still be assumed or transferred. The only non-assumable/transferable policies I’m aware of are those provided by USAA.
- There are still some pre-firm pricing available. The rates are simply going away, with an average annual rate increase of 15% for primary residence insurance until they reintroduced “The “full risk rate” is ch. On an individual policy, the rate rise can range from 5 to 18 percent.
- Pre-firm Non-primary and non-residential policies will experience annual rate increases of 25% until they are reformed “The “full risk rate” is ch.
- How much of a risk is there? The only way to determine the full risk rate is to obtain an elevation certificate, which is strongly advised on every pre-firm property being considered for purchase in order to properly comprehend the future possible cost of flood insurance.
- A NEW fee will be applied to ALL policies. Primary properties are $25, whereas non-primary, rental, and non-residential properties are $250. If the owner intends to dwell in the property for at least 51 percent of the following 365 days, it is considered primary…and FEMA will validate this.
- A new 15% reserve fund cost will be applied to ALL plans (NOTE: fee and surcharge are not a part of the rate increase)
- For all assumed/transferred policies, photos are required. This is a new rule that may generate problems if the present policy differs from what the photographs depict. For example, the lower level is enclosed to create usable space, or an addition is built that alters the foundation. It’s unclear how significant this new rule will be.
- A $10,000 deductible is now available. When compared to a $5,000 deductible, this will save you about 15%. Always acquire clearance from your lender before taking this step.
Does the Little Red River in Arkansas flood?
The Little Red River emerges from multiple forks in the Ozark Mountains and flows through north-central Arkansas. Clinton (Van Buren County), Fairfield Bay (Van Buren County), Heber Springs (Cleburne County), and Searcy (White County) are the major communities along the river’s route, while the river also flows north of Georgetown (White County), where it empties into the White River. The Little Red River is dammed immediately east of Heber Springs, forming the Greers Ferry Lake reservoir, which is a popular regional tourist attraction.
The Little Red River flows through Arkansas’ Ozark Mountains, Arkansas River Valley, and Mississippi Alluvial Plain, passing through three natural divisions (the Delta). In the Ozarks, the river forks in a loblolly shortleaf pine forest and an oak-hickory woodland. Archaeologists have discovered a number of prehistoric Native American villages in the river valley area, most of which are small late Mississippian Period hamlets up and down the river, as well as several Indian mounds. Hernando de Soto’s expedition is thought to have travelled through the river valley. Edward Palmer was the first archaeologist to conduct research in the area in 1883. The Arkansas Archeological Survey explored the area currently occupied by Greers Ferry Lake in 1958 and discovered a variety of burial sites and artifacts.
Though the river offered early American settlers with water and food, living near the river was difficult since it tended to flood during rains, and there were few fords where they could cross. John Standlee ran the first ferry on the river in 1818. William V. Greers operated Greers Ferry, which gave its name to the Cleburne County hamlet, dam, and lake “Bud” Greer in the 1880s, located above the Tumbling Shoals area at the time. The Cleburne County Court classified and controlled certain ferries as public ferries in 1885. Work on three river bridges, located at Miller, Tumbling Shoals, and Turney’s Ferry, began in 1912. The latest one, known as Winkley Bridge, was well-known in the area “After being closed to vehicular traffic in 1972, the “Swinging Bridge” became a tourist attraction. It did, however, fall on October 28, 1989, killing five people.
The federal Flood Control Act of 1938 permitted the United States Army Corps of Engineers to construct flood-control dams on a number of rivers around the country. The White River in Arkansas was one of the rivers designated by the act. The Corps selected to dam the Little Red River near Heber Springs because practically annual flooding on the Little Red River could exacerbate flooding on the White River. Greers Ferry Dam began construction in 1959 and was finished in 1962. The project was not without controversy, however, because not only did the new reservoir flood much of the surrounding farmland, but the shift in water temperature below the dam also killed numerous native fish species. As a result, engineers working on the DeGray Dam in southwestern Arkansas installed devices to allow for the management of water released through the dam in order to protect downstream fish populations. The US Fish and Wildlife Service erected a fish hatchery on the Little Red River to breed trout, which thrive in cooler water. As a result, the river has become a popular fishing spot both locally and nationally.
Clinton was struck by a severe flood on the Little Red River in 1982. The US Army Corps of Engineers responded by channelizing a section of the river that runs through Clinton. However, the river’s straightening caused erosion, which widened the channel from 200 to 800 feet, endangering landowners and the local airport. The Nature Conservancy of Arkansas began work on restoring that portion of the river in 2012, in collaboration with a number of other public and private groups.
Glen and Scott Akridge are brothers “The Little Red River Valley’s Late Mississippian and Protohistoric Occupation.” 118 in Arkansas Archeologist 39 (1998).
Evalena Berry, Evalena Berry, Evalena Berry, Evalen Cleburne County, Time and the River is a history of the county. Cleburne County Historical Society, Heber Springs, AR, 1982.
Charlsie B. Little, Charlsie B. Little, Charlsie B. Little, “On the Little Red River, there are ferries, fords, and fishing holes.” 93100 in Cleburne County Historical Journal 10, Fall 1984.
Is flood insurance a rip off?
Flood insurance fraud is most common following natural catastrophes, when a combination of weather variables produces substantial structural damage. In the United States, there are essentially no private underwriters of flood insurance because it is considered too hazardous by almost every big insurer. As a result, the Federal Emergency Management Agency issues the majority of flood insurance coverage (FEMA).
These plans are designed to protect property owners from flood damage exclusively, and do not cover damage caused by other destructive natural phenomena such as wind, hail, or rain, despite the fact that they frequently coincide with catastrophic flooding, such as during hurricanes.
Private property insurance policies typically cover damage caused by natural factors such as wind. Private insurers can deceive the government in the aftermath of a complex natural disaster by blaming structural damage on water rather than wind or other forces that are covered by their policies. As a result, such insurers are falsely steering insurance claims away from themselves and toward FEMA, causing FEMA to pay for damage that private insurers are genuinely responsible for.
- State Farm: State Farm was sued by two whistleblowers, both former claims adjusters, after the insurance giant allegedly moved claims under their responsibilities to federal insurance programs during Hurricane Katrina. State Farm allegedly pressured engineers to determine that property damage was caused by flooding rather than wind, according to the whistleblowers.
Death or Serious Injury
Flash floods are by their very nature quick and impossible to forecast. It’s no surprise that individuals can be gravely hurt or killed by natural disasters because they can strike without notice. Furthermore, many flash floods occur at night, while people are sleeping, heightening the danger. According to the National Weather Service, flash floods are the leading cause of death in the United States.
Immediate Property Damage
Flash floods can carry big material such as boulders in addition to the power of the water. This combination can inflict extensive structural damage to homes, rendering them uninhabitable, as well as carry away large items such as vehicles.
Long-Term Property Damage
Rooms, vehicles, and other items that were flooded may not be salvageable. Mold can grow in flooded homes and cause health problems. Water damage to the engine and other crucial components of submerged vehicles is usually irreversible.
Loss of Critical Infrastructure
Bridges and roadways can be damaged by large debris and floodwaters, making travel difficult. Flash floods can also knock out power, telephone, and cable lines. Flood waters can taint or disturb ground water, rendering tap water unsafe to drink.
Deposited Sediment & Silt
Flood floods take sand, silt, and other debris with them as they pass. When the flash flood’s pace slows, it begins to deposit this debris. Large amounts of silt and other debris can be left behind by floods, making passage difficult and costly to remove.
Uninsured or Under-insured Homeowners
Because flash floods are rare and unpredictable, many homeowners overlook them while insuring their properties. Flood damage is not covered by standard homeowner’s or renter’s insurance; you must purchase flood insurance via the National Flood Insurance Program (NFIP). View information about flood insurance, how to calculate your flood risk, and interactive flood damage displays.
Is tsunami covered by flood insurance?
Flood Insurance for Tsunamis Damages caused by tsunamis and other flooding occurrences are covered by a separate flood insurance policy issued by the National Flood Insurance Program (NFIP), which includes: Losses caused by flood-related erosion.
How are flood owners assigned to new owners?
An existing flood insurance policy can be assigned to a new buyer by the seller. This is advantageous to the buyer because the previous policy history will be transferred to the new buyer. If the SFHA zone has changed due to map redrawing, the NFIP will not adjust the flood zone if continuous coverage has been provided.
Does Lemonade offer flood insurance?
Coverage for Lemonade is currently available in the following states: Arizona, Arkansas, California, Colorado, Connecticut, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, and Wisconsin.