As the frequency and severity of extreme weather events increase in the United States, as seen during recent hurricanes, Milton and Helene, we have learned that there are significant shortcomings in U.S. flood maps and flood zones. Because of outdated flood maps, residents have been exposed to what can happen when these maps are not updated. We have found that our guides often fall short of capturing the true scope of flood risks, leaving property owners vulnerable to inadequate insurance coverage and unexpected losses. In communities like Augusta, Valdosta, and Greenville, it was found that the flood zones did not align with the recent flooding patterns and the consequences turned out to be devastating.
The Prewitt Group understands the critical role an accurate risk assessment of flood plains plays in ensuring that residents and communities have the appropriate comprehensive coverage when a flood hits. While agencies have been working to modernize flood maps, many areas still rely on outdated information that underestimates the flood risk in these various regions. These discrepancies create challenges for insurers and property owners. In fact, they may find that they are not covered and thus unprepared for the financial impact of flooding when the damage extends beyond traditionally designated flood zones.
It is crucial for residents and businesses to reassess existing insurance policies, especially those that are in areas that rely on outdated flood zones and maps. When property owners reassess insurance coverage, they can find gaps in coverage and take steps to ensure they are properly protected in the event of a flooding event. If current storm patterns persist, these floods could likely occur outside designated high-risk areas. Our team is committed to helping clients navigate these evolving risks and identify any gaps in their coverage. We also encourage our clients to stay informed about the latest developments in flood risk assessments and zones by ensuring they have the right coverage to safeguard their property and investments.
If you’re concerned about how changing flood risks may affect your insurance, reach out to one of our Risk Advisors for expert guidance and to help you ensure you have comprehensive protection in the event you are affected by a flood disaster in the future.