Living With Dams: Know the Risks
Dams are an essential part of a community’s infrastructure, and they exist in every U.S. state. They provide drinking water, power, flood control, recreation, and many other benefits to local economies. But if they fail, dams can pose significant flood risks to people and properties downstream — and many people are unaware.
Local agents and community leaders are encouraged to use these resources to help their community understand their flood risks below dams and how flood insurance can keep residents financially protected.
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Talking Points
Use these key facts when talking about flood insurance to your clients.
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Many communities in the United States are in the vicinity of at least one dam, and there are more than 84,000 dams across the country (as of 2010).
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Properties located downstream from dams are at an increased risk of flooding.
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Dam failure floods are almost always more sudden and violent than normal stream, river, or coastal floods.
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Most homeowner, renter, and business insurance policies do not cover flood damage.
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While federal disaster assistance may be available after flooding, FEMA’s Individual and Household program is only available if the President declares a major disaster declaration and does not provide as much financial assistance as flood insurance.
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If your client received federal disaster assistance from a flood, they may be required to obtain and maintain flood insurance. Additionally, second homes are not eligible for disaster assistance, flood insurance is the best way to protect this investment.