Page 21 - Texas811 Magazine 2020 Issue 2

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had a call lhe olher day lrorn house or office hui1ding(l>ztause llood Likely. prohahilily. rorenlial. How do
a cuslolner who was slnoking is flood — personal or husiness) is no. you ever reel secure?
lnad — his house gol nooded in a in a flood cone. lhe hank is ncll going lo .
_ . _ , . . . _ . . when you are lalking ahoul coycrage
iainsloirn, and his agenl lold hun require [land insurance. Thals nghl —— it . . .
. , . . wilh your agenl, are you inieresled |n
ilwasni covered‘ lhe address [or which lhe loan is (or . , .
ha ( h 1. d f _.h.l .k, heanngwhalsayailahleiogeloronly
ppens o eous. eo a lglrls , .
NL7pe.Probahly wasnl. .11 _h “ whal Von have In gel.’ llyoupisl ask
‘°“*'Y°“ “‘’“°‘ ““’‘“”°"‘‘ F1°°d ahouiwhal on have lo have lo satisf
You see il on TV all lhe Iimz: hel-e insurance renuirernenrs." Y . _ . X
, . lhose loan clclslnglequlrernenlsy youie
cornes a lug rain. waler cascades down . , . .
. . using lhe scenario ahoye. pisl hecause nol going lo know whal you could have
a small lull hehindihehouses, lhrough , . . _ , _
lhe hank doesnl rerpune ll doesnl rnean lo piolecl ihal large inyesrrnenl you are

‘1“"°"‘Y-'*"‘*" 3"” ‘1‘”‘“‘““"d ou wonlwish ou had il al sorne oinl ahoui lo lnake

inlo lhe nein lronl yards. waler [lows inf doEsi“m;Vmo°dm”ha 25“) ' ‘

down like Niagara Fa1ls—OK, lnayhe W m En F100 d hm dealfljmh unless FEMA requires il, lhe hank,

nol rhal lnuch. hul enough lo nolice,— fl PhPb.1:Vl' H . R d d who's also in as higalwuny as you are.
enough lo wash oul your yard. [I gels “P” 3 “Y” 3"”; °° *'”“€“' doesn'l care wheiher you gel flood

inlo lhe houses. usually in a new l-‘EMA classifies risk lay using lhree insurance AND unless Flood insurance
suhdiyision, and heres lhe newscasrer overartlwing flood zones hased on lhe is for a loan closing. you're gonna have
holding a .nic in [mm oia horneowner likelihood of flooding in lhal area: a 30 day wail Io gel il anyway. They're
Whcls saying, ‘And insurance wonl pay _ , _. . a lol lnore inleresled in proleciing

[or Ihis. l don'l know wlial we're going A _”‘E""‘51“ fr 5f‘““"f1°3d 3313'“ llieir inleresis (lhcir collaleral) lhan in

lo do." . "35 3" .‘“ "5 °’ .‘’° proleciing vour inleresis. Thal's up Io

insurance ls lederally reopured. zone on »

whai kind of insurance doesn'l cover v is lhe lnosl hazardous flood zone, Y ‘

(land? and il is usually round in heachlronl cheap insurance is nol cheap. But il
EVERY kind ofimmm does“ 1 and coaslal areas. zecornes eyen rnore expensive when il

. , oesnl coyer whai you need covered

coverflood.Ilsatornplelelyseparzte - Moderaleflsk areas are Zonesfi when on ma hmmd

policy — and lhai's lhe only risk il and x. Y ’

does cover. Flood is nev2r"included" _ Lowmk am“ am mm C and X Your homzr your husiness properly —

in a horneowner or propeny policy. * lhal's whai you work all your life lo

Ever. The only place In eyen gel Flood Obviously, lhe nearer you are In waler, have and enjoy. This is nol lhe place lo
insurance is lhe l=ederal Govemmznl. lhe likelier you are In have waler ha.-gain hunl.

Your agenl. oi course. is where you dalnaging your propeny. The lunlier M hm hm ym agent explain WW5
apply lor ll. away you are iroln waler — coaslline, .1 M _ I .

. d mm 41“ lm M1 on aval a elo you Io piolecleyerylung

where lo slarl? who's al (auli? who lo ;:Y|’l“;'i1§;’:fl'o 0 d dmagg But dnm lyefflm you've goll

1'1"“ word ”1ikely' lull you inlo a raise sense Lei lhe lacls help you decide. Q

l_el's “blame' lhe hank. They renuine of securily. There's No area lolally free

firz insurance. don'l Ihey? Bill, ii lhe of lhe poienlial ior Hood.

2020 !ssue2 Te)usE11~)9