Standard homeowners insurance policies don’t cover flood damage. (Credit: Petra Richli/Adobe Stock)
Roughly 38,000 homes could have been damaged by the Texas floods, according to a new analysis from Cotality.
The analysis found that 38,600 residential structures were in the flood footprint of the counties deemed eligible for federal assistance from the Federal Emergency Management Agency. Tom Green, Travis, Kerr, Williamson and Burnet counties had the most residential properties potentially impacted by flooding. In Tom Green county, more than 10,000 properties could have seen flood damage.
However, it’s still unknown how many properties actually suffered damage and to what extent.
More than 130 people died in the floods that hit central Texas early on the Fourth of July. More than 160 people are still missing.
Flood insurance coverage is not very common in the counties hit hardest by the flood. Across the nine impacted counties, Cotality's analysis found there are just 14,000 flood insurance policies in force.
According to the American Property Casualty Insurance Association, standard homeowners insurance policies don’t cover flood damage. Homeowners living in the counties declared to be part of the federal disaster area are eligible for grants and loans through FEMA. Flood insurance is then mandatory for anyone who receives federal disaster assistance.
For vehicle owners, water damage is typically covered under comprehensive auto policies.
APCIA says homeowners with flooded homes should:
- Shovel or scrape mud off the floors, furniture and walls before it dries. Then hose down the walls with clean water, starting from the ceiling.
- Major appliances, like refrigerators and stoves, can be cleaned and put back into operation. They usually don’t suffer damage unless they were operating at the time the water covered them.
- Use diluted chlorine bleach to clean household items, appliances, walls and floors.
- Dry wood furniture outdoors, not in direct sunlight. Remove drawers and other moving parts to dry separately.
- Wash and sterilize food utensils and equipment. Throw out any food that was exposed to flood waters.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.