Growing up as a kid I had some cool experiences. My did was supposed to be an aerospace engineer until he had a chemistry lab accident in college. Like many of us he had to adjust his plans.

One of his first jobs out of college was building the NASA backpacks. We were all about NASA as kids. I remember watching the first night rocket launch in 1985 at Cape Canaveral. That booming sound and smell of fuel was incredible.

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So many years ago when the NASA shuttle program was shut down I was pretty disappointed. On May 30 2020 that all changed after a 10 year absence from space we were finally back in space with the new SpaceX program. SpaceX is basically privatizing the space program now by being the first U.S. private company to send astronauts into space.

So If Space X can do it then why can't the National Flood Insurance Program.

Why can't the National Flood Insurance Program work with a company to completely privatize the flood insurance industry like NASA did.

Well there seem to be alot of reasons, so lets discuss a few

  1. Giving everyone access
  2. Accurate risk models
  3. Accurate Pricing

As of today the National Flood Insurance Program still does not recognize private flood insurance as continuous coverage. You might have had a private flood insurance policies for years but when you sign up with the National Flood Insurance Program for a policy its like you haven't had one.

Another one of the major issues that is occurring across the United States is giving everyone access to private flood insurance. Private flood insurance companies have the right to reject a risk based on their under writing. One of the things that is a common rejection is previous flood claims.

So how do you continue to provide coverage to these properties that continue to flood?

Maybe the question should be should these properties continue to get access to flood insurance as they continue to rebuild in special flood hazard areas?

I recently talked to a property owner who has filed 7 flood insurance claims in 5 years. They stated they have received more money in flood insurance claims than they paid for the property.

As you can imagine this can throw up a major stop sign for private flood insurance companies who are trying to make a profit.

Something that is starting to really advance are risk models. Private flood insurance companies are doing a really good job of using data and technology to get more accurate risk models.

While a National Flood Insurance Program policy is based on the flood zone it doesn't truly measure the flood risk for a property.

I hear from people everyday that are shocked that a private flood insurance rate is double what a National Flood Insurance Program policy is in a minimal risk zone also called a flood zone x.

One reason is the private flood insurance company can see what the real flood risk of a property is compared to what the flood zone maybe.

One of the last things is accurate pricing. Have you ever heard the saying once you give somebody something its really hard to take it back. Trust me my 5 year old daughter found YouTube on my phone and now she always wants to find games on my phone. It's a real battle with her on this everyday as we limit these types of devices.

The same goes for the National Flood Insurance Program and subsidized rate. Certain properties in the special flood hazard area qualify for subsidized rates. These basically means FEMA is covering part of the rate.

You have many people who have taken advantage of this through the years. Especially higher end homes in coastal areas like Mexico Beach Florida which was devastated by a hurricane a few years ago.

The National Flood Insurance Program continues to push forward and is scheduled to release a new update to the program called Risk Rating 2.0 in 2021. While this will benefit many people it still is not addressing the issue of privatizing the flood insurance industry.

So as Space X continues to make history with its privatization we can only hope that one day the flood insurance industry will do the same thing.

If you have questions about what your flood insurance options are then make sure to visit our website Flood Insurance Guru. You can also check out our daily flood education videos on our YouTube channel.

Remember we have an educational background in flood mitigation which means we can help you understand your flood risks, flood insurance, and mitigating your property against flooding.

Contact Us

Chris Greene

Author

Chris Greene

President of The Flood Insurance Guru
M.S. in Emergency Management with a focus in Flood Mitigation
flood@communityfirstagency.com

I just got back from my first camping trip with my family. We recently decided to get a camper to make as many memories with our 4 year old daughter Lydia as possible.

I travel the country shooting our flood education videos and this was a way for them to come along.

My dad was an eagle scout but I only had the opportunity to go camping as a boy scout once when I was a child. I found it funny as a kid my dad was the only one wearing khakis and a dress shirt on the camping trip. Boy was he along way removed from his eagle scout days.

Geeky hipster holding an abacus against desk

Being a physicist he didn't do much with the outdoors as an adult. By the time I came along my grandparents were older and I didn't get the same experiences with the outdoors like my brothers did. I remember as kids they would go off to camp for a week. I looked forward to that but when it was my turn the camp had closed.

So as you can imagine this camping trip was filled with lots of learning experiences for me and my wife. If it wasn't for my experienced brother in law Jason it probably would have been an epic failure.

It was my first time sleeping in a camper, it was my first time learning how to manage the waste tanks. That was a learning experience.

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It was even my first time using a bath house. 

Old barn and outhouse at Millbrook Village, at Delaware Water Gap National Recreational Area, New Jersey.

My wife said do you have shower shoes? 

I said what are shower shoes?

Confused. Portrait young man thinking daydreaming trying to remember something scratching head isolated white background. Negative emotion facial expressions feelings. Short term memory loss, failure

She said you can't walk in the bath house bare footed. Many times we don't know the answer to the question until it's time for the question. As you can imagine I had lots of questions when it came to camping.

Like many people who have a question I went to Youtube to get my camping questions answered.

Getting camping questions answered can be much easier than getting flood insurance questions answered sometimes.

So today's question has probably been asked 100 times to me over the years.

Can You Buy Flood Insurance During Hurricane Season?

So can you?

You can buy flood insurance during any season. You might be limited to what options are available. Let's look at the National Flood Insurance Program first. The National Flood Insurance Program generally does not limit you to when you can buy flood insurance. They do put a 30 day wait period on a policy being effective unless it is for a map change or loan closing.

So what about private flood insurance?

You can still buy private flood insurance during hurricane season, but they may have more limitations. Private flood insurance carriers will put moratoriums in place many times when there is a named storm in the Gulf or Atlantic ocean. Generally they will remove this moratorium once the storm has passed and any flooding has stopped.

It's important to remember that like the National Flood Insurance Program private flood also has a wait period. This wait period generally ranged from 5 to 15 days unless its for a loan closing.

Even though you may have a loan closing a moratorium could still stop you from getting flood insurance in place.

So its important that you understand what options are available, what the wait periods are, and that you can get flood insurance during hurricane season.

So if you have questions about getting flood insurance during hurricane season then make sure to visit our website. You can also check out our YouTube channel or Facebook page where we do daily flood education videos.

 

Chris Greene

Author

Chris Greene

President of The Flood Insurance Guru
M.S. in Emergency Management with a focus in Flood Mitigation
flood@communityfirstagency.com

I have spent the last 4 days camping with my family. My daughter is approaching her 5th birthday and she had the time of her life. While I was away it allowed me to reset a little bit. 101409834_10163441922635368_6499435779809345536_n

When I do this I like to sit back and think about things and even do a little bit of research.

As I am doing this I notice a lot kids riding bikes around without parents. I guess the parents assume they are in a campground so the kids are safe. I probably had two or three kids jump out in front of me when I was driving.

This got me thinking about hurricane seasons we had a few years ago. We went a good while without a major hurricane making landfall. When one did it it was bad. It very well could have been because we felt comfortable and let our guard down.

The upcoming hurricane season starts today June 1st.

It looks as though there will be a 3rd named storm this week which is a lot this early in the season.

In fact the last time it happened was 2017 when the United States saw some of its most devastating hurricanes in history.

Let's take a look at the 2017 hurricane season. That year there were 17 named storms, 10 of which were major hurricanes, and 6 major hurricanes.

Harvey hit Houston Texas becoming the most destructive hurricane in local history there.

So does 2020 spell disaster as well?

Maybe NOAA is predicted 13 to 19 named storms for 2020. 6 to 10 of these will be hurricanes and 3 are expected to be major hurricanes.

 

2017 Hurricane Season  # of named storms # of Hurricanes # of Major Hurricanes
  17 10 6
2020 Hurricane Season Prediction 13 to 19 6 to 10 3

 

It could you see just like 2017 the 2020 season has been active even before the season began as a result of the jet stream dipping down to the South. This is helping tropical systems develop much quicker. 2017 had its first storm develop in April which is extremely early. 2017 was also the first time in 12 years that a major hurricane made landfall in the United States.

Not having a major hurricane make landfall for 12 years can lead a lot of people to not adequately prepare. Like they say all wounds heal with time and sometimes we forget how abad that wound hurt.

Hopefully one thing that we can learn from the 2017 season is always being prepared and understand the threat of inland flooding hurricanes can create.

Having the right flood insurance in place is very important. Its also important to understand that everyone is at risk of flooding whether its a low, moderate, or high risk.

If you have further questions about hurricane season or how to obtain flood insurance make sure to click here.

You can also check out our YouTube channel where we do daily education videos or even listen to our podcast.

Remember we have an educational background in flood mitigation so we can help you understand your flood insurance, flood risks, and mitigating your property against flooding.

 

Contact Us

Chris Greene

Author

Chris Greene

President of The Flood Insurance Guru
M.S. in Emergency Management with a focus in Flood Mitigation
flood@communityfirstagency.com