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Floods? That's what disaster assistance is for, right?

Wrong - Disaster assistance is only available when the President declares a disaster.  Federal disaster assistance is USUALLY A LOAN that you must PAY BACK WITH INTEREST. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 per year) for 30 years, in addition to your mortgage loan that you still owe on the damaged property. Plus you would need to buy and maintain flood insurance for the life of the loan.

Flood Insurance is affordable! The average premium for flood insurance coverage is less than $570 a year (even less outside of high risk zones). Plus, when you submit a flood insurance claim, you are compensated for all covered losses whether or not a disaster has been declared - and you do not have to pay it back.

There is a standard 30-day waiting period for new policies unless purchased during a home closing.  There are also restrictions for selling or changing policies while a named storm is in the Gulf of Mexico. 

For more information, call your Cornerstone Agent at: 713-948-0707
or visit

Posted 5:32 PM

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