With hurricane season beginning June 1, Texas insurance experts are warning Houston-area homeowners not to wait to purchase flood insurance.
The warning comes as climate experts say extreme weather events are becoming more frequent and more intense due to climate change.
According to the World Meteorological Organization, severe weather events around the globe continue to increase, bringing higher risks for flooding and storm damage.
Flooding remains one of the costliest natural disasters in the United States, causing between $18 billion and $23 billion in damage to homes nationwide each year.
The Texas Department of Insurance said now is the time for homeowners to prepare, especially since flood insurance policies typically take 30 days to take effect.
That means residents who wait until a storm is approaching may not be protected.
Many homeowners mistakenly believe flood insurance is only necessary if they live in a designated flood zone. However, according to the National Flood Insurance Program, about 40% of flood insurance claims come from properties outside high-risk flood areas.
During Hurricane Harvey, an estimated 204,000 to 209,000 homes in Harris County were damaged, many of which lacked flood insurance.
Experts also warn that flood damage is not covered under most standard homeowner insurance policies.
Homeowners must purchase separate flood insurance policies to protect both the structure of their homes and their belongings.
“It’s said that one inch of water in your home can cost about $25,000 worth of damage,” Mistie Hinote with the Texas Department of Insurance said. “When you think of that one inch damaging your floors, your baseboards, your furniture, your walls — that’s one inch. So it can add up really fast.”
Hinote said without flood insurance, homeowners are responsible for paying those repair costs out of pocket.
Officials also cautioned residents not to rely solely on FEMA assistance after major storms.
Experts said FEMA aid is only available if a presidential disaster declaration is issued, and even then, the average FEMA disaster assistance payment is around $4,000 — often far less than the cost of repairing flood damage.
With hurricane season just weeks away, experts recommend homeowners review their insurance coverage now and make preparations before storms begin developing in the Gulf.