LAS VEGAS (KSNV MyNews3) -- All the flooding in Vegas has many people thinking: what if my home were to get flooded? Will my insurance cover the damage? News 3’s Gerard Ramalho spoke to some experts today who say flood insurance is certainly worth looking in to.
The river of water that rushed through valley roads on Monday could possibly bring on a flood of nightmares for uninsured homeowners. Insurance experts like Jeff Marin advise residents to visit websites like the Clark County Regional Flood Control District and fema too see how a particular area is zoned.
"A lot of homeowners and business owners don't know if they're in a flood zone, especially in Clark County, because there's not that many of them," Marin said
Flood potential is usually determined by two things: previous floods in the area and flood control infrastructure. And 85 to 90 percent of people out there do not have flood insurance covered under their homeowner’s insurance.
Tammy Frye with SERVEPRO of Northern Las Vegas – a company that repairs damage caused by natural disasters, including flood waters -- says Nevada floodwaters are considered category 3, or black-water, which is the worst possible.
"You've got feces and dirty bacteria coming in through your home, and once it hits any of your contents, or anything structural, it's considered ‘needs to be demoed.’ It needs to be torn out," Frye said.
Repairs can run in the tens of thousands of dollars. By comparison, the cost of a stand-alone flood policy is between $700 and $1,000 per year. The cost varies depending on how much coverage is desired.
And despite what some people believe, even if you live in a flood zone, you can still purchase flood insurance. And if you're not technically in a flood zone, purchasing insurance may still be worth considering.