At Goodrich & Watson Insurers, we’re committed to helping our clients throughout Hampton Roads protect their homes and investments from unexpected events. One of the most significant risks faced by homeowners in this region is flooding. In fact, the second most frequent home claim we see is water damage. In this blog, we’ll explore why flood insurance in Newport News is essential and how it can protect you and your home.
Floods Are the Most Common Natural Hazards in the United States
Flooding is a prevalent natural hazard across the country, causing more property damage than any other type of disaster. In areas of Hampton, Poquoson, and even Newport News, VA, the risk is elevated due to the region’s proximity to bodies of water such as rivers and coastal areas. Floods can occur year-round, often triggered by heavy rainfall, hurricanes, or winter storms. Protecting your home from these unforeseen events is crucial.
Wetlands Help Mitigate Flood Damage
Wetlands play a key role in reducing flood damage by acting as natural sponges. They absorb excess water and slowly release it, protecting nearby areas from sudden surges. Thankfully, we live in an area with lots of wetlands, but despite this, severe floods can still cause significant damage to homes and properties, making flood insurance essential.
Increasing Intensity and Frequency of Storms
Over the past 50 years, we’ve seen a 20% increase in the heaviest downpours, and climate change is expected to increase the size of floodplains by 40-45% over the next 90 years. This trend increases the risk of flooding in areas that were previously considered safe.
Rising Costs of Flood Damage
The cost of flood losses in the U.S. has risen to an average of $10 billion per year, reflecting the growing severity and frequency of floods. Even with substantial investments in flood control, the financial impact of floods continues to escalate.
Given the significant risks and high costs associated with floods, having flood insurance is essential for homeowners in Newport News. Traditional homeowner’s insurance policies often do not cover flood damage, so obtaining a separate flood insurance policy is crucial to protect your investment.
At Goodrich & Watson Insurers, we offer comprehensive flood insurance policies to safeguard your home and possessions. Contact us today to learn more about how we can help you prepare for and recover from flood-related incidents. By investing in flood insurance, you can gain peace of mind knowing that your home is protected from one of the most common and costly natural hazards.
Request a flood insurance quote today!
