As an insurance company, we get asked what the 100-year floodplain is? The term can often be confusing to people who live in a flood zone as they think that the chances of severe flooding will only happen once every 100 years. But that isn't the case. It really means that there is a 1 and 100 or one percent chance of heavy flooding in the area.
While one percent may seem like a low risk for heavy flooding, it shouldn't stop you from getting flood insurance. Any amount of flooding can be a hassle to deal with, especially if you do not have flood insurance protecting your home or valuables. Without flood insurance, you could be spending thousands of dollars on damages alone. And if you are looking for a home in a high-risk zone, most mortgage companies will not give out a loan without proof of flood insurance.
So, can a 100-year floodplain occur more than once a year? Realistically, yes, but the chances may depend on where you live. Of course, areas with a high risk of flooding have a greater chance of heavily flooding than those at a low to moderate risk. Remember, no matter the flood risk. You should purchase flood insurance from the NFIP or a private insurance company.
For more information on the 100-year flood plain and its meaning, visit our website or give us a call at (540)809-1415. We will answer any questions you may have. Contact Holt Flood Insurance today.