We have all heard the rivalry between East coast and West coast rappers like 2Pac and Notorious B.I.G. Then there was the historical NBA matchups with the Lakers and Celtics. The NFL battles between the 49's and the Falcons. The East coast and West coast have always battled each other. Flooding threats is no different.

When you think of Florida one of the first things that probably comes to mind is hurricanes. When you think of areas like Gleneden Beach or Lincoln City Oregon you may think of earthquakes or cliff erosion.

While both of these areas are considered coastal areas, they face some pretty different flood threats.

Florida is normally the most popular area in the country for hurricanes to hit. The state is relatively flat which can cause flooding issues without a hurricane. However when hurricanes hit they can cause some serious flood problems as history has taught us with storms like hurricane Andrew.

The flood threat along rivers and lakes in Florida is not as high as other parts of the country. This is an area where many people let their guard down by not carrying flood insurance.

Now let's take a look at areas like the Oregon coast. There are some beautiful coastal areas in Oregon like the Gleneden beach area. This coastline faces some different challenges from your traditional hurricanes. As we know hurricanes get stronger with warmer waters.

As you can imagine the coastal waters of Florida are much warmer causing a greater threat. However a threat that is pretty low that is high in Oregon is the threat of tsunamis and cliff erosion. Being on the west coast earthquakes are pretty common which can activate tsunamis. These tsunamis can bring rushing flood waters into areas like Gleneden beach or other areas of Lincoln county Oregon. According to The News Guard cliff erosion in areas like Oregon is something that continues to increase flooding threats along the Oregon coast.

So whether you are on the East coast or the West coast you face unique flood threats. It maybe hurricanes, it might be river flooding, or even cliff erosion.

It's important that you have a flood insurance policy in place that can help protect you financially.

Remember not all flood insurance options are the same. In the Oregon area you have some great private flood insurance options that can provide some additional coverages that you don't get with the National Flood Insurance Program.

Let's say you have an investment property in Gleneden beach. If that property floods you would not have loss of use coverage with the National Flood Insurance Program but you may have it with a private flood insurance policy.

So if you have further questions about flood insurance in Oregon make sure to click here. You can also check out our daily flood education videos on our Youtube channel or even the podcast for this blog.

Remember we have an educational background in flood mitigation. This means we can help you understand your flood insurance, flood risks, and mitigating your property long term.

 

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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

So you have that family heirloom that has been in the family for years. It was passed down through your family over the last 100 years and is priceless to you.

Simple sign hanging outside old brick building with antiques shop

It might not be priceless if you have a flood insurance claim?

Antique coverage on a flood insurance policy can be very shocking, especially after a claim. Many people do not realize that FEMA uses functional value on these items.

So that family heirloom might just be worth $50 instead of the $5000 you think it's worth.

A close-up picture of a cute young surprised, unhappy, puzzled woman, girl holding an empty wallet, isolated  on a white background

First let's define what an antique is and how it might be different from something like fur?

An antique is a collectible object such as a piece of furniture or work of art that has a high value because of its considerable age.

Antique coverage works a little bit differently than something like fur. Certain valuable items such as original artwork and furs are only covered up to $2500, while antiques have functional value.

So let's discuss a scenario where coverage is paid out on antiques.

We recently had a customer come to us from Texas after a flood insurance claim. They had a $100,000 in contents coverage but only received $15,000 from FEMA. They could not figure out why the check was so low. The owner was in tears as she sat there looking at belongings knowing she could not replace them for $15,000. They had paid all this money for the last twenty years only to be shocked that they didn't have the coverage they thought they did.

You see about 90% of the things that were destroyed in this home were antiques that had been in the family for years. So while these things were worth alot of money and even more memories to the property owner, they were worth very little to FEMA.

The reason is as we mentioned before FEMA uses functional value.

So what exactly is functional value?

Well let's use your great grandmothers jewelry box for example. It's been in the family for over 100 years and it's worth alot of money. However if its destroyed by flood what are you getting?

Happy beautiful young woman opening jewelery gift box

You are going to get what it would cost to buy a regular jewelry box with the same dimensions.

As you can imagine this can be a major disappointment.

This is one of the biggest surprises most property owners have during the National Flood Insurance Program flood claim process.

So what exactly can you do to get that antique covered?

You could look for a specific policy that would cover it but most have flood as an exclusion.

What we normally recommend is keeping items like this at higher ground so that they are hopefully the last item to be destroyed. Whether you have a private flood insurance policy or a National Flood Insurance program policy we recommend reading the personal property very closely about how claims are paid out.

As we have discussed today antique coverage can be confusing because if a claim occurs you aren't really sure what you are going to get, but you know it won't be what the item is worth to you.

If you have further questions about flood insurance for antiques make sure to visit our website. You can also check out our YouTube channel or Facebook page where we do our daily flood education videos.

 

Start My Flood Insurance Quote

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